Global shares were buoyant on Monday as the promise of further policy stimulus from China to counteract the economic hit from a coronavirus outbreak calmed nervous investors.
Trading was light, with U.S. stocks and bond markets shut for a public holiday.
The gains were led by China, whose blue-chip index climbed 2.25% after the country’s central bank lowered a key interest rate and injected more liquidity into the system.
Also whetting risk appetite was an announcement by China’s finance minister on Sunday that Beijing would roll out tax and fee cuts.
Japan’s Nikkei fell 0.7% after its economy shrank at the fastest pace in almost six years in the December quarter.
South Korea’s KOSPI index ended mostly flat. Australian, Singapore and Malaysian share indexes weakened.
In commodities, gold fell 0.22% to $1,581.25 an ounce. Brent crude was flat at $57.31 a barrel and U.S. crude added 0.1% to $52.09.