Taiwan’s Taiex rose 4.9%, recovering some ground after falling more than 4% on Friday. Japan’s Nikkei Stock Average gained 2.5%, while Hong Kong’s Hang Seng Index edged up 0.1%. South Korea’s Kospi fluctuated around the flat line and was last down 0.3% at 5,046.53. SK Hynix advanced 2.3% and Samsung Electronics rose 1.75%. Markets in Singapore and Malaysia were closed for a holiday.

Markets have steadied since last week’s initial shock over concerns that a Democrat-led Congress could slow the expansion of AI data centers. Investors had grown too pessimistic about the AI build-out, Yorkville Ives analysts said, adding that “the AI revolution is coming one way or another.” They also cited U.S.-China technology competition as a potential driver of continued investment in AI infrastructure. President Trump wrote on Truth Social on Sunday: “Remember, China will take any Data Center that we don't want, and pay lots of money for it.”

Nvidia’s investigation could put fresh pressure on the already sensitive AI sector. The probe is likely to prompt at least several congressional inquiries and weigh on the company’s stock, Yorkville Ives analysts said. They identified whether Huang remains chief executive as a critical question for investors.

Oil traded unevenly as investors assessed the outlook for the Middle East conflict. Trump told CNN renewed strikes were “highly unlikely” if negotiations over Tehran’s nuclear program and reopening the Strait of Hormuz made progress. Iranian Foreign Minister Abbas Araghchi, however, said talks with the U.S. had made no progress and Tehran was waiting to see whether Washington’s position shifted after the midterms.

The oil market’s supply-and-demand balance had not materially changed over the past week, so the price decline largely reflected a narrowing risk premium, said Hamad Hussain, an economist at Capital Economics. Front-month West Texas Intermediate futures fell 0.5% to $90.44 a barrel, and Brent futures dropped 1.0% to $97.30. Gold rose 1.4% to $4,214.24 a troy ounce, while silver gained 2.0% to $52.93, supported by lower oil prices.