BANGKOK—Asian stocks rose on Monday as investors shrugged off fears of a slowdown in the US and scooped up bargains after last week’s slide.

Japan’s Nikkei 225 rose 0.2 percent to 8,733.83. Hong Kong’s Hang Seng index was 1.1 percent higher at 19,613.89 and Australia’s S&P ASX 200 was 1.3 percent higher at 4,224.90. South Korea’s Kospi index drooped by 0.5 percent to 1,476.35.

Asian markets were the first to open after the developments in Libya, with the apparent crumbling of Muammar Qaddafi’s regime after rebels entered the capital of Tripoli on Sunday.

It wasn’t yet clear what effect the fast-moving situation in Libya would have on equities, but oil prices are expected to fall if the situation can quickly stabilize.

Libya used to export about 1.5 million barrels of oil a day, but production had all but ground to a halt in recent months as rebels battled to overthrow Qaddafi.

Stocks in the US fell on Friday to end a fourth-straight week in the red, amid fears the US economy is headed toward another recession.

The Dow Jones industrial average lost 172.93 points, or 1.6 percent, to close at 10,817.65. Since July 21, the Dow has fallen about 15 percent.

The dollar hit a new post-World War II low against the Japanese yen on Friday as investors flocked toward safety. The dollar fell as low as 75.94 yen in New York before rebounding to 76.48 later. On Monday the dollar stood at 76.83 yen.

Investors will be on edge this week as they scrutinize new data on the US economy. But the most anticipated event will be a speech by Federal Reserve Chairman Ben Bernanke.

The Fed pledged earlier this month to keep interest rates super-low through mid-2013. Investors hope Bernanke will announce, or at least preview, further steps to help the economy.