This is CNBC Live Blog covering Asia-Pacific markets.
Asia-Pacific markets traded mixed on Monday as Wall Street prepares for another big earnings week.
Bank of America
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The quarterly earnings report would provide insight into the health of the U.S. financial sector following the
Silicon Valley Bank collapses
How this would affect the U.S. Federal Reserve tightening cycle.
Tuesday will see the release of China's Gross Domestic Product report. According to Reuters, economists surveyed expect a 4% increase year-on year for the first three months of 2023. This is higher than the last quarter of 2018. This would be the largest increase in almost a year.
Australia is the
All 11 sectors finished higher. The weekly gain of 1.98% was extended to 0.2%.
The Japanese language is the
Topix gained 0.32%, while the Kospi was up 0.22%. South Korea's Kospi fell by 0.11% while the Kosdaq dropped by 0.18%. Hong Kong's
Hang Seng index
Futures point to a lower opening.
The U.S. stock market ended Friday's session with a lower closing price as it entered earnings season. The market entered its earnings season on Friday, and stocks in the U.S. ended lower.
Dow Jones Industrial Average
About 0.42% of the population is affected by this,
The NASDAQ fell by 0.21%.
The week ended with a 0.35% decline
This report was contributed by CNBC's Sarah Min, Alex Harring and Sarah Min.
China's home prices rise the most in 21 months in March
Refinitiv calculated that China's new house prices fell by 0.8% in March compared to the previous year.
National Bureau of Statistics
On Saturday, 70 cities published data on house prices.
The reading for home prices has fallen the least since June 20, 2022 when it fell by 0.5% on an annual basis.
According to the latest data, March's reading represents a 0.5% increase month-on-month compared to a rise of 0.3% in February. This is the fastest rate of growth in 21 months.
Goldman Sachs economists stated in a note over the weekend that they expect housing to ease in the months ahead. They cited demographic trends and the tightening of financing conditions for developers.
Chicago Fed President: Recent economic data shows inflation is moving in the right direction but there are still some ways to go
Chicago Federal Reserve President Austan Goolsbee says that the latest economic data show positive developments in the inflation front.
The central bank's work isn't done yet.
He said that he didn't want people to react too quickly to the short-term news. However, he felt it was a positive sign.
Steve Liesman on Friday
Goolsbee succeeded Charles Evans as president
Early this year
, is an active member of the
Federal Open Market Committee
The federal funds rate is set by the Federal Funds Rate.
Consumer confidence improves but inflation expectations for the next year rise
According to a new report, consumer sentiment improved in April.
University of Michigan survey
But Americans also expect high inflation in the coming year.
The preliminary reading for the Index of Consumer Sentiment for April was 63.5, which is higher than the previous reading of 62.0. Dow Jones surveyed economists who expected the index to remain the same.
On the downside, inflation expectations for one year rose from March to April at 4.6%.
"Uncertainty about short-term inflation expectations remains elevated. This indicates that recent volatility in inflation expected for the year ahead is likely to persist." In a press statement, Survey of Consumers director Joanne Hsu stated that the bumpiness in expectations of inflation is only short-term. Long-term inflation expectations have remained stable.
-- Jesse Pound
Retail sales fall more than expected
Retail sales data showed that consumer spending in March was down as a result of the mounting recession fears, and turmoil in banking.
The Dow Jones survey of economists predicted a 0.5% drop in retail sales for March. However, an advanced reading showed that the decline was 1%.
This was the lowest reading month-to-month since November.
Analysts expected a 0.4% decline in retail sales, but instead they saw a 0.8% drop.