Asia markets were mixed on Monday as major Chinese indexes fell more than 2 percent each by the end of the session.
Hong Kong's Hang Seng index erased losses to trade fractionally higher in late-afternoon trade.
Europe's largest bank HSBC reported its third quarter earnings on Monday. Pre-tax profit jumped 28 percent from a year ago to $5.922 billion, and revenue for the July-to-September quarter was $13.798 billion, 6.32 percent higher than the same period a year ago.
HSBC's Hong Kong-listed shares traded 4.88 percent higher in the afternoon, after jumping 5 percent following the lunch break.
In Australia, the benchmark ASX 200 rose 1.11 percent to close at 5,728.2, with all sectors seeing gains. The energy sector was up 1.13 percent, materials gained 1.17 percent and the heavily weighted financial subindex was up 1.12 percent.
"With global equity markets suffering a massive sell-off in October, led by tech counters, the approach of November may be time to stock; so to speak," analysts at Mizuho Bank wrote in a morning note.
"Pointedly, whether this is ... a "healthy" and long overdue correction that is merely (and sensibly) taking account of monetary policy calibrations, and attendant global liquidity conditions or an alarming descend into potentially unruly bear markets," they said.
"The jury is still out, and perhaps it is useful to take stock of what's priced in, and drivers of equities at the margin; given the much wider (asset market) spillover," the analysts added.