Asian markets surge
A bit of a bounce for battered stock markets.Asian shares were cautiously higher on Monday after G-7 officials took steps to repair the world's broken financial system.
Many nations agreed to buy stakes in troubled banks over the weekend.
French President Nicolas Sarkozy:
(SOUNDBITE) (French with English translation) FRENCH PRESIDENT NICOLAS SARKOZY SAYING:
"We need to ensure that healthy banks can find the financing conditions which gives them the support needed to lend to firms and to household. To that end eurozone governments will give public guarantees to banking re-financing operations.
Australian markets jumped at the open - the first major world market to react to statements over the weekend.
Hong Kong stocks opened higher, but pared gains as investors again became worried about the outlook for the global economy.
Resource stocks were among the biggest gainers - with Australian gold firms like BHP Billiton up sharply.
China stocks fell in early trade -- Shanghai investors remained mired in worries about the global economy. Many businesses are braced for a sharp slowdown in exports to the U.S. and Europe.
Tara Joseph-Hui reporting for Reuters.
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