The Philippine stocks jumped 2.8%, after having lost more than 3% in the previous session, while equities in Taiwan, Japan, and China all rose more than 1%.
China shares advanced as much as about 2% on Monday, as the benchmark index slightly recuperated from a sharp drop last week following a crackdown on the private education sector. China on Monday reported its highest daily rise in coronavirus cases since the start of this year, adding to fears of a surge in infections due to the more virulent Delta variant.
Investors also expect a slowdown in supply chains across Asia as western economies open up and shift back to services consumption, with pent up demand fading.
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Malaysia Bursa was down today