Asian markets maintained a positive start to the new trading week on Monday, continuing to recover from the global rout that hammered stocks in the first few weeks of 2016.
Australia's ASX 200 tacked on 1.84 percent to end at 5006.60, with the energy sector leading gains, rallying 3.50 percent.
In Japan, the Nikkei 225 gained 0.90 percent to end at 17,110.91. That followed a nearly 6 percent surge in Friday's session. Across the Korean Strait in Seoul, the Kospi ended up 0.74 percent at 1893.43.
Chinese markets also traded in positive territory, with the main Shanghai composite ending up 0.78 percent and the Shenzhen composite tacking on 1.01 percent. Away from the mainland, Hong Kong's Hang Seng index gained 1.37 percent.
But analysts weren't quite sure how much faith to put in the rally after the selloff since the start of the year.
"Markets have rallied on hints of further easing by the European Central Bank and speculation that the Bank of Japan will follow suit," said Angus Nicholson, market analysts at spreadbettor IG, in a note. "But there has been no major change in fundamentals to support the rally, and the concern is if and when it fizzles out, markets could even drop below their recent lows. These concerns are likely holding back a lot of 'bottom pickers.'"
He's not alone in expecting another slump could be on the cards.
HSBC's co-head of Asian economic research, Frederic Neumann, isn't upbeat about global growth prospects, despite the headway made in equity markets around the world. Neumann said in a note that what arguably worried investors the most was "that central banks may have spent all their ammo, leaving us exposed to another slump."
In Asia, however, Neumann said central banks had not quite reached the end of the road.
"Central banks [in Asia] still have a few rounds in their belts, even if further easing will prove less effective than in the past," he said.