The U.S. government’s latest export restrictions on semiconductor technology to China were telegraphed in advance and aren’t as severe as once feared.

Investing.com-- Shares of major Chinese chipmaking firms rose sharply in Shanghai and Hong Kong trade on Friday after Bloomberg reported the U.S. was considering less strict export restrictions on Beijing than feared.

Markets rose across Asia on Monday with traders cheered by healthy Chinese data, while the euro and Paris stocks tumbled as a budget standoff in France fuelled concerns about the eurozone's second-biggest economy.

Equities rose across Asia on Monday following another record day on Wall Street, with traders also cheered by data suggesting China's economic malaise is showing signs of easing. Hong Kong and Shanghai were among the best performers after data showed Chinese manufacturing activity expanded at a faster clip than expected in November.