HONG KONG/SINGAPORE: Asian equities bounced on Monday and assets like gold and the Swiss franc fell as market players cautiously returned to pick up bargains after last's week wild ride, though concerns over the weak global economic outlook may keep gains in check.
Japan's Nikkei rose 1.5 percent after main Wall Street indices advanced on Friday but without the wild intra-day swings that marked the first few days of trading last week after the U.S. credit rating was downgraded by Standard and Poor's.
Japanese shares were also boosted by data showing Japan's economy shrank less than expected in April-June following a devastating earthquake and tsunami in March.
Asian stocks outside of Japan rose by a similar margin, after tumbling nearly 4 percent last week, with key indexes in Hong Kong and Australia up nearly 2 percent.
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