Asian markets mixed after recent gains but mood remains upbeat

Most Asian markets were mixed Monday as investors took a step back after last week's rally, though the mood remains upbeat after the China-US trade pact was signed, and the global outlook appears a little rosier.

Focus now turns to the release of corporate earnings, with big US names including Netflix, IBM and Hyundai due to report over the coming days.

Friday's broadly healthy Chinese data provided some reassurance to traders, indicating a growth slowdown in the world's number two economy may have bottomed out, and suggesting this year could see some improvement.

"We are entering 2020 on a more stable footing with economies globally stabilising and looking like they're turning up, and the phase one trade deal," Anne Anderson, of UBS Asset Management, told Bloomberg TV.

"So it's a bit more positive with regard to the economic fundamentals."