Asian shares inch higher; euro tries to shake off Italian political risk

Asian shares edged higher on Thursday while the euro gained some respite after hitting five-month lows a day earlier. The common currency slumped on Wednesday following a report that Italian populist parties trying to form a coalition government could ask the European Central Bank to forgive 250 billion euros of Italian debt. The gains in Asian shares came after U.S. equities advanced on Wednesday, led by retail and technology shares, even as a rise in U.S. 10-year Treasury yields to an almost seven-year high suggested more competition for equities.

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