Hong Kong: Asian markets trimmed gains after an early surge on Monday as investors tracked last week's record-breaking close on Wall Street.
The three major US indices all closed at record highs on Friday with earnings season in full swing, on the back of strong earnings announcements.
The trend is expected to continue, with major companies signalling higher profits in anticipation of tax cuts recently enacted in the United States.
With more data expected this week -- including from tech giants like Apple, Amazon, Facebook, Alibaba and Google's parent company Alphabet -- analysts say strong results could sustain the positive sentiment in the markets.
"A data-packed week and stock reporting seasons around the globe should see market focus turn to the numbers," said Michael McCarthy, chief strategist at CMC Markets in Sydney.
But he warned that "a weakening US dollar may prove a brake on any investor exuberance".
The greenback remains under pressure, after seemingly contradictory comments last week on its strength by US President Donald Trump and Treasury Secretary Steven Mnuchin.
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