Asian shares traded mixed on Monday as traders monitored the potential of future rate hikes and an economic slowdown, while Wall Street in the United States prepared for another earnings week, including Charles Schwab, Bank of America, and Morgan Stanley.
As of 9.25 A.M. Bangkok time, the S&P/ASX 200 in Australia was up 0.26%.
In Japan, the Nikkei 225 dropped 0.13%, while South Korea’s Kospi lost 0.17%.
Hong Kong’s Hang Seng index gained 0.19%. In mainland China, the Shanghai Composite rose 0.64%.
U.S. stocks closed the week on Friday generally lower as the market began earnings season. At the close of trading on Friday, the Dow Jones Industrial Average dropped 0.42%, the S&P 500 shed 0.21%, and the Nasdaq Composite down 0.35%.
Following the failure of Silicon Valley Bank, quarterly earnings reports would provide a glimpse into the current condition of the American banking system and how it might affect the Federal Reserve’s tightening cycle.
China’s Gross Domestic Product report is due out on Tuesday, with economists polled by Reuters anticipating a 4% year-on-year growth for the first quarter of 2023, which would be an improvement over the fourth quarter of 2022. That would be the largest increase in over a full year.
