China's cabinet said on Saturday it would promote a consumption recovery as the major driver of the economy and boost imports, state broadcaster CCTV reported, at a time of cooling global demand as major economies teeter on the brink of recession.

China's central bank said on Sunday it will roll over three lending tools to increase support for targeted sectors of the economy.

Bank of Japan Governor Haruhiko Kuroda on Monday stressed the importance of maintaining ultra-loose monetary policy to support the economy and prod companies to raise wages.

Asian shares turned cagey on Monday ahead of a week that is certain to see interest rates rise in Europe and the United States, along with U.S. jobs and wage data that may influence how much further they still have to go.

Oil prices kept to a tight range on Monday amid uncertainty over a drone attack on an Iranian facility and a Russia-led supply glut, although optimism over a demand recovery in China helped drive some gains.

Oil prices edged ahead for a second session on Friday, buoyed by stronger-than-expected U.S. economic growth and hopes of a rapid recovery in Chinese demand as COVID-19 cases and deaths plunged from last month's peak levels.