Asian stocks rebounded on Monday after Wall Street reclaimed lost ground last week as geopolitical jitters eased.
U.S. stocks jumped on Friday on signals of reduced tensions in the Russian-Ukraine crisis and as Wall Street viewed American military moves in Iraq as limited. Friday proved the best session in five months for both the Dow Jones Industrial Average and S&P 500, which rose 1.1 and 1.2 percent respectively. The Nasdaq climbed 0.8 percent.
President Barack Obama said on Saturday U.S. airstrikes have destroyed arms that Islamic State militants could have used against Iraqi Kurds, but warned there was no quick fix to the Iraqi crisis. Over in Gaza, Israel and the Palestinians agreed on Sunday to an Egyptian proposal for a new 72-hour ceasefire in the region.
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