Asian stocks rebound, euro pulls off lows as anxiety

over Italy recedes

Asian stocks rebounded from a two-month trough on Thursday and the euro enjoyed a respite after sinking to its lowest in 10 months as the political turmoil in Italy that roiled global financial markets showed signs of easing.

Spreadbetters expected European stocks to open slightly higher, with Britain’s FTSE (FTSE) edging up 0.05 percent, Germany’s DAX (GDAXI) adding 0.1 percent and France’s CAC (FCHI) rising 0.05 percent.

Hong Kong’s Hang Seng (HSI) rose 0.75 percent and the Shanghai Composite Index (SSEC) gained 1.4 percent after news that growth in China’s vast manufacturing sector accelerated strongly and well above forecasts in May to an eight-month high.

MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) gained 0.6 percent after slumping on Wednesday to its weakest since early April.