Asian markets were trading mixed to start the week as traders eyed U.S. earnings season which is set to begin in earnest this week. Thomson Reuters predicts S&P profits to have risen by 18.6 percent in Q1 2018 as compared to Q1 2017, the biggest increase in seven years. Profit-taking in advance of the earnings releases kept markets from heading broadly higher.
The Shanghai Composite struggled the most on Monday, falling 1.62 percent as of 2:20 p.m. HK/SIN. Hong Kong’s Hang Seng Index was not far behind, sliding 1.59 percent. The Nikkei 225 was up 0.26 percent and the ASX 200 was up 0.21 percent.
The dollar was trading mostly lower on Monday afternoon, pushing the dollar index down 0.09 percent to 89.76 .DXY. The dollar was down against the euro to $1.2332 and was trading down 0.07 percent against the yen to 107.26. The greenback also eased against the British pound and the Canadian dollar though it managed to eke out modest gains against the Swiss franc.