Strains in emerging markets and taper in Fed stimulus sent investors scurrying to safety in bonds and yen.
Global stock markets rise with investors cautiously optimistic about U.S. debt deal prospects.
The Philippines' economy grew by faster-than-expected 7.8% year-on-year in the first quarter.
The Philippines' economy grew by 7.8% year-on-year in the first quarter, making it Asia's fastest growing economy in the period.
Japan's benchmark stock index fell Monday after a central bank survey showed a smaller-than-expected improvement in business sentiment.
Asian stock markets and the euro tumbled as a plan to fund a bailout for Cyprus by taxing its bank deposits raised worries it could spark an exodus of capital from fragile European economies.
