Commodities were also higher on hopes that Europe will avoid a meltdown in its financial system and on signs that China, a key source of resources demand, is containing inflation and so more likely to avoid an economic "hard landing."

G20 finance chiefs at the weekend heaped pressure on euro zone leaders to get on top of the 2-year-old debt crisis, throwing attention on to what is now being seen as make-or-break European Union summit on October 23.

The euro held firm after posting its biggest weekly gain in 9 months last week. The single currency traded around US$1.3854, down a touch on the day but well off a 9-month trough of US$1.3144 set on October 4.

In commodities markets, copper edged up 0.1 percent to US$7,554 a tonne and oil was also higher, with Brent crude up 0.2 percent at US$112.43 a barrel and US crude up 0.5 percent at US$87.21.

Gold, which in recent months has switched from a negative to a positive correlation with riskier assets such as industrial commodities and stocks as safe haven investors turned instead to the dollar, rose 0.1 percent to around US$1,680.70 an ounce, after its biggest weekly gain since early September last week.