MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.1 percent.
Friday on Wall Street, the Dow Jones Industrial Average rose 120.6 points, or 0.45 percent, to 26,848.75, the S&P 500 gained 7.6 points, or 0.26 percent, to 2,983.6 and the Nasdaq Composite added 10.53 points, or 0.13 percent, to 8,127.36.
According to a Reuters report, buoying market confidence on Monday were expectations that the European Central Bank would cut interest rates on Thursday.
“The equity markets will receive a further lift and consolidate their recent gains if they can confirm the ECB’s dovish stance,” Ichikawa at Sumitomo Mitsui DS Asset Management said.
Oil prices rose early on Monday.
Global benchmark Brent LCOc1 was up 7 cents at $61.61 a barrel by 0106 GMT, while U.S. West Texas Intermediate was 20 cents, or 0.3 percent, higher at $56.72 a barrel.
Saudi Arabia’s king appointed his son, Prince Abdulaziz bin Salman, as energy minister on Sunday, replacing Khalid al-Falih. Prince Abdulaziz has been a longstanding member of the Saudi delegation to the Organization of the Petroleum Exporting Countries (OPEC). (Read more here)
Comments from United Arab Emirates energy minister saying OPEC and its allies are committed to balancing the crude market gave support to prices.
Middle East markets
Saudi Arabia’s index was mainly flat on Sunday. Samba Financial Group and Saudi British Bank both fell 2.4 percent.
Dubai’s index dropped 0.7 percent with Emirates NBD falling 2.9 percent following a four-day winning streak.
In Abu Dhabi, the index was down 0.2 percent in a drag led by market heavyweight Abu Dhabi Commercial Bank which lost 1.6 percent.
Qatar's index closed 0.2 percent higher with blue-chip petrochemical maker Industries Qatar and Masraf Al Rayan gaining 1.5 percent and 1.4 percent, respectively.
Egypt’s blue-chip index EGX30 closed flat, Kuwait’s premier market index dropped 0.5 percent while Bahrain and Oman’s indices edged 0.2 percent lower.
The dollar was mainly unchanged on Monday.
The dollar index .DXY, which measures the greenback against a basket of six major currencies, rose 0.03 percent to 98.447.
Gold prices edged higher on Monday.
Spot gold was up 0.3 percent at $1,511.30 per ounce, as of 0117 GMT.
U.S. gold futures were up 0.2 percent at $1,518.5 an ounce.
(Reporting by Gerard Aoun; Editing by Mily Chakrabarty)
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