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Markets will remain volatile this week as investors are treading the cautious path on account of February month derivative expiry and the Union Budget 2013-14.
Asian shares edged higher on Monday, with investors still picking up shares battered by last week's steep plunge, while the yen fell to fresh lows on news a reflationary advocate could head the Bank of Japan next month.
The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%, pulled higher by Australian shares which gained 0.6% on reassuring comments from US Federal Reserve officials on the bank's current stimulus programme, which has helped underpin risk sentiment globally.
South Korean shares opened up 0.2%, with the nation's new leader, who has shown willingness to talk down the won, being sworn in on Monday. Tokyo's Nikkei stock average opened 1.6% higher.
Wall Street ended higher, as comments from Federal Reserve officials allayed fears that the U.S. central bank would curtail its stimulus measures. The Dow Jones industrial average gained 0.86 percent, to 14,000. The Standard & Poor's 500 Index ended up 0.88 percent, at 1,516. The Nasdaq Composite Index was 0.97 percent, at 3,162.
