Mizuho Senior Economic Vishnu Varathan agreed that it might be too soon to look past political risks in France.
"(I)t may be premature to be seduced by the 'ooh la la' headlines of the French polls ... (as) the final outcome of the French elections remains fairly wide open," Varathan said in a note, adding that Macron's lead could be overstated. Varathan also highlighted how the surge in the euro above the $1.09 handle has since faded.
Japan's benchmark Nikkei 225 index surged 1.37 percent or 255.13 points to close at 18,875.88 on the back of the French polls while the Kospi gained 0.4 percent or 8.7 points to close at 2,173.74. The ASX 200 was higher by 0.3 percent or 17.66 points to close at 5,871.8.
Equities in mainland China turned in their worst performance of the year, with the Shanghai Composite down by about 1.4 percent. The Shenzhen Composite plunged 2.44 percent or 46.8516 points to finish at 1,873.3734.
Losses in stock indexes on the mainland come after Chinese media stated that the government would endure greater levels of volatility as regulators tackled shadow banking, Reuters reported.
Hong Kong's benchmark Hang Seng Index initially traded lower following the drop in Chinese shares but later shrugged off the negative sentiment to trade 0.45 percent higher.