Oil prices jumped above $79 a barrel to a 2009 high, while the dollar edged down against the yen and euro. Wall Street futures pointed to a higher open in the U.S.

Most of Asia's markets recouped falls from early in the day. Sentiment was dampened initially by quarterly reports Friday from Bank of America and General Electric that suggested growth in the world's largest economy would remain weak.

U.S. company results will once again be in focus this week, with consumer companies like Apple, McDonald's and appliance maker Whirlpool Corp. due to release third-quarter earnings.

Investors will also being eyeing clues about China — whose fast-expanding economy has helped bolster markets this year — with Thursday's release of figures about manufacturing, retail sales, investment and economic growth.

"People believe the growth will be still strong, and that could continue to support the markets in the short term," said Peter Lai, investment manager at DBS Vickers in Hong Kong. Still, he cautioned that momentum seems to be slowing after the recent advance in markets.

Early going in Europe, Britain's FTSE 100 rose 1.2 percent, Germany's DAX added 1.1 percent and France's CAC-40 advanced 1.1 percent.

In Hong Kong, the Hang Seng closed up 270.56 points, or 1.2 percent, to 22,200.46. China's Shanghai index rose 2.1 percent to 3,038.27 as a top economic official said the country would surpass its growth target of 8 percent this year.

"Achieving a growth rate of 8 percent for the year is basically no problem," Xiong Bilin, a deputy director of the National Development and Reform Commission, told reporters in Beijing.

Elsewhere, benchmarks in South Korea and Taiwan rose 0.5 percent.

In Japan, the Nikkei 225 stock average shed 21.05 points, or 0.2 percent, to 10,236.51. Australian shares dropped 0.9 percent. India's market was closed for a public holiday.

In oil, benchmark crude for November delivery rose as much as 52 cents to $79.05 a barrel but later fell back and was up 4 cents at $78.57 in Asian trade. The contract added 95 cents on Friday.

The dollar lost ground to 90.47 yen from 91 yen. The euro climbed to $1.4934 from $1.4891.

U.S. futures pointed to a higher start on Wall Street Monday. Dow futures were up 39, or 0.4 percent, at 9,963.

Friday on Wall Street, the Dow fell 67.03, or 0.7 percent, to 9,995.91. The broader S&P 500 index fell 8.88, or 0.8 percent, to 1,087.68, and the Nasdaq composite index fell 16.49, or 0.8 percent, to 2,156.80.