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· Asian shares steadied from early losses on Monday as investors placed their hopes on a coordinated global monetary policy response to weather the damaging economic impact of the coronavirus epidemic.

The sheer scale of losses prompted financial markets to price in policy responses from the U.S. Federal Reserve to the Bank of Japan and the Reserve Bank of Australia.

Also helping calm market nerves, Bank of Japan Governor Haruhiko Kuroda said on Monday the central bank would take necessary steps to stabilise financial markets.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS advanced 0.4%, turning around from a loss of about 0.3% earlier in the day.

Despite some stability in the market, analysts still expect volatility to persist.

· Tokyo shares ended higher Monday after volatile trading, ending their losing streak at five days, as investors bought on dips after the Bank of Japan pledged all-out efforts to ensure market stability amid the coronavirus outbreak.

The 225-issue Nikkei Stock Average ended up 201.12 points, or 0.95 percent, from Friday at 21,344.08. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 15.00 points, or 0.99 percent, higher at 1,525.87.

Gainers were led by service, farm and fishery, and retail issues.

· China shares rose more than 3% on Monday after last week’s steep losses, as bleak economic data fueled hopes Beijing would roll out more measures to support the world’s second-largest economy, while a decline in new coronavirus cases also helped sentiment.

Infrastructure and real estate stocks led the bounce-back, with Shanghai shares up 3.2%, its biggest since late March 2019, while the blue-chip CSI300 index rallied 3.3%, its best since last May.