The halt in the Asian risk rally came as Friday's non-farm payroll data underscored the resilience of the US labour market

China sat out of the global risk rally after a group of Republican lawmakers said battery companies CATL and Gotion should be banned from shipping goods to the US

Shares across Asia were boosted by advances in the euro ahead of the European Central Bank policy meeting, but pared gains amid caution

Focus in the region was on how Indian markets performed after stocks sank and the rupee slid a day before

Modi is still on track to return to power in India for a rare third-term, but will now be reliant on alliance partners to stake a claim to form and keep running the government

Japanese officials have ordered Toyota, Mazda and Yamaha to suspend shipments of some vehicles for submitting incorrect or manipulated safety test data

Market analysts say the projections lifted uncertainty about the likely result and signalled the continuity of Modi's economic policies. But exit polls have a patchy record in India

"Although stock markets have performed strongly in May, just in the last week it seems very stressed," one analyst said, pointing to investor jitters on inflation expectations

After five months of inflows, foreign investment in emerging markets fell in April, according to the Institute of International Finance

The latest halt in the global risk rally comes on the back of data pointing to lingering inflationary pressures across major economies

Stronger than expected consumer confidence data pushed US government bond yields to a near four-week peak, lifting their global counterparts

Plug-in hybrids priced from 79,800 yuan ($11,014) have made up the bulk of BYD's sales in the past three years