Most Asian stocks climbed Monday, powered by a sharp rally in Chinese artificial intelligence shares. Trading volumes remained thin across the region because Japanese markets were closed for a holiday. Tech sectors led the advance, tracking a Friday bounce on Wall Street and benefiting from softer-than-expected U.S. jobs data, though expectations for Federal Reserve interest rate policy stayed put.

The broader mood was cautious, however. A probe into the Federal Reserve sparked worries about central bank independence, while a tangled web of geopolitical conflicts kept investors on edge. Tensions involving Venezuela, Iran, and a diplomatic spat between China and Japan overshadowed some of the optimism.

South Korea’s KOSPI outperformed with a 1.2% gain on chip strength. Hong Kong and mainland Chinese indexes also advanced, fueled by surging debuts for new listings like Z. AI and MiniMax.

Taiwan’s TSMC added 1.4% following strong sales data, and NVIDIA’s recent chip unveiling kept the AI narrative alive despite lingering concerns about valuations.