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Asian shares rose to a two-month high on Thursday as expectations of further government stimulus supported investor confidence in an economic recovery from the global coronavirus pandemic.

Russia's Rosneft , which closed its oil trading arm after sanctions were imposed by U.S. authorities in February, has set up a new Geneva-based trading business, four trading sources familiar with the matter said.

China said it will ease coronavirus restrictions to allow more foreign carriers to fly to the mainland, shortly after Washington vowed to bar Chinese airlines from flying to the United States due to Beijing's curbs on American airlines.

Hong Kong-listed shares of HSBC and Standard Chartered rose on Thursday after the banks backed China's imposition of a national security law on the city, even as a pro-democracy and newly formed financial workers' union criticized the move.

South Korean prosecutors have requested an arrest warrant against Samsung Group heir Jay Y. Lee, they said on Thursday, in the investigation of a controversial 2015 merger and alleged accounting fraud in a suspected bid to aid his succession plans.

Fifteen U.S. airlines were granted final government approval on Wednesday to temporarily halt service to 75 domestic airports as travel demand has been crushed due to the coronavirus pandemic.

Oil prices dropped on Thursday, reversing gains in the previous session, on concern over whether major crude producers will be able to agree to extend record output cuts, heightened by worries over a huge build in U.S. distillate inventories.

German agrochemicals group Bayer AG has been blocked from selling its dicamba herbicide in the United States after an appeals court rejected a federal regulator's permit for the product.

Oil prices were little changed on Thursday as investors awaited a decision from top crude producers on whether to extend record output cuts.

U.S. President Donald Trump on Thursday is expected to sign an executive order that would give federal agencies emergency powers to fast-track major energy and other infrastructure projects by overriding environmental permitting requirements, two sources familiar with the proposal said.

Bayer AG has been blocked from selling an agricultural weed killer in the United States, the latest setback for a business already fighting an expensive legal battle over another product.

Shares of Slack Technologies dipped 3% on Thursday ahead of the workplace communication platform's quarterly report, pausing a three-month rally fueled by millions of people working from home due to the coronavirus.

U.S. senators announced a bill on Thursday expanding sanctions on Russia's Nord Stream 2 natural gas pipeline and targeting the project Washington says will boost Moscow's economic and political influence in Germany and other European countries.

The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said.

Fiat Chrysler will file regular reports on its use of a multi-billion euro state-backed loan which Italy is set to approve soon and will face sanctions if it does not respect commitments attached to the package, the economy minister said.