Asian shares extended their gains on Monday, supported by expectations the Federal Reserve and the European Central Bank will deliver new measures to underpin their fragile economies.

The turnaround in market sentiment from recent heavy selling was triggered last week when ECB President Mario Draghi pledged he would do whatever it takes to safeguard the single currency.

His comments raised hopes the ECB, which holds its policy meeting on Thursday, will act to ease borrowing strains for Spain and other highly indebted countries facing surging yields that threaten to derail fiscal restructuring efforts.

Source: Yahoo Finance News