Asian markets opened cautiously higher on Monday, with Japan’s Nikkei 225 climbing 1.2% to 38,500—a fresh 34-year high—boosted by a weaker yen and strong earnings from tech giants like SoftBank. China’s Shanghai Composite edged up 0.6% after Beijing announced a $140 billion property sector rescue package, while India’s Sensex lagged (-0.3%) amid lingering election volatility.

The rally defied Friday’s hotter-than-expected U.S. jobs data, which had triggered bets on delayed Fed rate cuts. “Asia is decoupling from Wall Street’s hawkish mood,” said Nomura strategist Chetan Seth, noting that regional tech stocks were rebounding despite Nasdaq’s 2% slump last week. Key movers included TSMC (+3% in Taipei) and Samsung Electronics (+1.8% in Seoul).

Risks Ahead:

• Currency Pressures: The yen hit 160/USD, sparking fresh intervention fears.

• Commodity Swings: Iron ore prices tumbled 5% on China demand doubts.

• Earnings Watch: Tencent and Toyota report Q1 results Wednesday.