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Coronavirus concerns prompted organizers on Sunday to cancel one of the world's most prestigious gatherings of oil ministers and top executives from the energy and financial industries scheduled for this month in Houston.

South Korea's Hyundai Motor said on Monday its sales fell 13% on-year to 275,044 vehicles globally in February amid a coronavirus outbreak that disrupted supply of parts from China.

Asian shares regained a measure of calm on Monday as markets bounced after a searing sell-off last week and as investors pinned hopes on a likely coordinated global monetary response to help soften the economic blow of the coronavirus outbreak.

The Swiss National Bank posted an annual profit of 48.9 billion Swiss francs ($50.71 billion), the central bank said on Monday, and said it would double its payout to Switzerland's regional and central governments.

Nokia Chief Executive Rajeev Suri will step down in September and is to be replaced by Pekka Lundmark, until now the CEO of energy group Fortum, the telecoms equipment maker said on Monday.

Samsung Electronics has started building a $220 million research and development center in Vietnam, the South Korean tech giant's local unit said on Monday.

Asia's factories took a beating in February from the coronavirus outbreak with activity in China shrinking at a record pace, surveys showed on Monday, raising the prospect of a co-ordinated policy response by central banks to prevent a global recession.

Amazon.com Inc said late on Sunday that two employees in Milan, Italy, have contracted the coronavirus and are under quarantine.

South Korean budget carrier Jeju Air Co Ltd said on Monday it would acquire a 51% stake in competitor Eastar Jet for 54.5 billion won ($45.49 million), a lower price than previously announced.

Oil prices rebounded more than $1 a barrel after earlier hitting multi-year lows on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.

Samsung Electronics has started building a $220 million research and development centre in Vietnam, the South Korean tech giant's local unit said on Monday.

Asian shares steadied from early losses on Monday as investors placed their hopes on a coordinated global monetary policy response to weather the damaging economic impact of the coronavirus epidemic.

Asia's factories took a heavy hit in February from the coronavirus outbreak with activity in China shrinking at a record pace, business surveys showed on Monday, adding to fears the crisis risks triggering a global recession.

Senior officials in President Donald Trump's administration on Sunday tried to calm market panic that the coronavirus could cause a global recession, saying the U.S. public had over-reacted and that stocks would rebound due to the American economy's underlying strength.

Oil prices pared losses after earlier hitting multi-year lows on Monday as hopes that a bigger than expected production cut from OPEC and stimulus from central banks could offset economic gloom from the coronavirus outbreak.

The rout in world stocks deepened on Monday, with investors rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus.

U.S. stock index futures tumbled as trading reopened on Sunday night with investors still unnerved by the coronavirus and taking little solace from weekend comments by U.S. officials that aimed to soothe panic about a pandemic.

The implied yield on U.S. 10-Year Treasury futures traded below 1% for the first time, as investors grew increasingly unnerved by the spread of coronavirus.

Goldman Sachs economists on Sunday predicted the U.S. Federal Reserve will cut interest rates aggressively perhaps before its next scheduled meeting in two weeks time, saying the head of the U.S. central bank sent a clear signal with his unscheduled statement on Friday.

Stock futures plummeted on Monday as investors were rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus.