Asian shares were mixed on Monday after US stocks ended last week higher, with Japan's Nikkei 225 leading gains. Oil prices also rose amid concerns over tensions in the Middle East and threats to key shipping routes.
US stock futures were little changed.
In Tokyo, the Nikkei 225 rose 2% to 66,890.02, helped by strong gains in technology stocks. Tokyo Electron, which makes equipment for chip production, gained 3.5%, while chip-testing equipment maker Advantest jumped 4.9%.
South Korea's Kospi rose 0.8% to 6,305.86, although major chipmakers fell. Samsung Electronics dropped 0.9% and SK Hynix declined 1.3%.
Analysts said some foreign investors were selling shares in major technology companies to take profits after recent gains and shift money into other sectors, including defense companies.
Hong Kong's Hang Seng Index gained 0.6% to 25,810.95, while China's Shanghai Composite was almost unchanged at 3,941.48.
Australia's S&P/ASX 200 fell 0.4% to 9,231.00. Taiwan's Taiex rose 1.8%, while India's Sensex gained 0.1%.
Oil prices climbed amid renewed concerns over the Middle East. Israel rejected a Gaza deal announced by US President Donald Trump, while details also emerged about a possible agreement between Iran and Oman concerning the Strait of Hormuz.
Iran has suggested that vessels linked to countries it considers hostile could be barred from using the strategic waterway.
Meanwhile, Yemen's Iran-backed Houthi rebels attacked a government-controlled port on the country's Red Sea coast, raising further concerns about the safety of shipping routes and the possibility of renewed conflict in Yemen.
Brent crude, the international benchmark, rose 0.6% to $84.04 a barrel, while US benchmark West Texas Intermediate crude gained 0.5% to $78.58 a barrel.
Wall Street ends week higher
US stocks gained on Friday after government data showed employers unexpectedly cut 23,000 jobs last month.
The weaker jobs figures raised expectations that the Federal Reserve could delay raising interest rates as it tries to control inflation. The news helped push all three major US indexes to their second consecutive weekly gains, with the S&P 500 reaching another record high.
The S&P 500 rose 0.6% to 7,757.64, while the Dow Jones Industrial Average gained 0.3% to 54,036.93. The Nasdaq Composite jumped 1.3% to 26,690.62.
The jobs report also raised concerns about household spending as inflation remains high. The government revised its figures for May and June, reducing the combined number of jobs reported for those months by 103,000.
Slower job growth makes it more difficult for the Federal Reserve to balance supporting employment with controlling inflation. Higher interest rates can reduce inflation by slowing economic activity, but they can also make borrowing more expensive for businesses.
Technology companies again led the gains. Nvidia rose 2.3%, while Broadcom gained 1.7%.
The yield on the 10-year US Treasury note fell to 4.64% from 4.67% before the jobs report. The two-year Treasury yield, which is more closely linked to expectations for Federal Reserve policy, dropped to 4.20% from 4.22%.
Inflation data in focus
Investors will closely watch several inflation reports this week, particularly the consumer price index (CPI).
US consumer inflation is expected to have risen 3.4% in July, slightly slower than the 3.5% increase recorded in June. Inflation has remained above 3% for most of the year.
In early Monday trading, the US dollar rose to 158.37 Japanese yen from 157.71 yen. The euro fell to $1.1553 from $1.1568.