Asia-Pacific markets mostly rose Monday as investors digested monetary policy decisions from Japan and China as well as the U.S. Federal Reserve's sharp rate cut last week.

Data last Friday showed China's youth unemployment rate rose for a second straight month to its highest level this year, according to the National Bureau of Statistics, as the labor market cools down amid a weakening economy.

Despite growing calls for lower interest rates, the People's Bank of China on Friday unexpectedly left its key benchmark rates on hold.

China's central bank supplied 234.6 billion yuan ($33.29 billion) to the banking system through open market operations, according to a statement on Monday, in a move to "maintain reasonably sufficient liquidity in the banking system at the end of quarter." It also lowered the 14-day reverse repo rate to 1.85% from 1.95% set in the previous funding operation in February.

Separately, the U.S. is reportedly mulling a ban on importing and selling cars from China that carry software and hardware for communications or autonomous driving systems.

The Bank of Japan also kept its benchmark interest rate steady at around 0.25% on Friday. Japan's authorities were closely watching the markets for signs of any rebuild of yen carry trades which could heighten market volatility, Japan's top currency diplomat Atsushi Mimura said.

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