Japan's economic contraction in the fourth quarter has deepened lingering uncertainty in global financial markets, which have been gyrating since the start of the year.

On Monday, the Nikkei stock average skyrocketed 1,069 points, or more than 7 percent, in response to Friday's more modest rallies in the United States and Europe, but experts say it is still unclear when Tokyo's downtrend will end.

"The markets will still be struggling against a very strong wind," said Yasunari Ueno, chief market economist at Mizuho Securities Co. "There will be no way out there for markets to get out of their bearish mood for at least a month."