Asian shares gained on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that was sparked by fears of creeping inflation and higher borrowing costs.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent, having recovered more than 40 percent of its losses from late January to last week’s low.
Japan’s Nikkei gained 2.0 percent while U.S. stock futures climbed gained 0.4 percent in Asia on Monday.
European share are also seen rising, with spread-betters expecting advances of up to 0.8 percent in Germany’s Dax, 0.5 percent in France’s Cac and 0.2 percent in Britain’s FTSE.
MSCI’s index of stock markets across the globe gained 4.3 percent last week, the best weekly performance since December 2011.
The U.S. 10-year Treasuries yield rose to a four-year high of 2.944 percent last week, compared to 2.411 percent at the end of last year.
In the currency market, the dollar stabilised off its three-year lows against a basket of currencies.
The euro stood at $1.2426, backing down from Friday’s three-year high of $1.2556.
The dollar traded at 106.24 yen, bouncing back from its 15-month low of 105.545 set on Feb 16.
The weaker dollar propped up commodities.
U.S. West Texas Intermediate crude rose 1.1 percent in Monday Asian trade to $62.37 per barrel, extending their rebound from a 1-1/2-month low of $58.07 set on Feb. 9.