This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets rebounded and erased earlier losses as investors assess private surveys of business activity from Japan and Australia, as well as the October producer price index from South Korea.

In Australia, the S&P/ASX 200 gained 0.19%, recovering from three straight days of losses and finishing at 6,856.9.

Japan's Nikkei 225 rebounded as well and climbed 0.2% to end at 31,062.35, and the Topix closed marginally up at 2,240.73 as the October purchasing managers index flash reading saw its first contraction{

Japan business activity posts first contraction since December 2022

Japan's business activity contracted in October, the first time since December 2022, according to flash estimates by the au Jibun bank.

The country's composite purchasing managers index came in at 49.9, compared with 52.1 in September.

The drop was mainly due to a sharper fall in manufacturing activity, with the manufacturing PMI showing a faster rate of contraction at 47.6 against September's 48.7.

The bank noted that services activity remained in expansion, but grew at the weakest pace year-to-date "amid reports of worsening economic conditions in October." Services PMI stood at 51.1, compared with September's 53.8.

— Lim Hui Jie

South Korea's Kospi closed 1.12% up at 2,383.51, ending a three-day losing streak, while the Kosdaq surged 2.77% to 784.86.

This comes after the country's producer price index climbed at a faster pace{

South Korea's producer prices climb at faster rate in October

South Korea's producer price index climbed 1.3% year-on-year in September, a faster pace than the 1% gain seen in August.

This was the second straight month of increase in the PPI, after it decreased for 12 straight months from July 2022 to June and remained in contraction territory until July.

The PPI measures monthly variations in the prices of goods shipped by industrial producers within the domestic market.

— Lim Hui Jie

Mainland Chinese markets rebounded, with the CSI 300 index gaining 0.37% and finishing at 3,487.13, snapping four straight days of losses.

Hong Kong's Hang Seng index came back from a holiday and was 0.89% lower in its final hour of trade.

Overnight in the U.S., the Nasdaq Composite snapped four days of losses as Treasury yields retreated from their highs and traders looked ahead to the release of corporate earnings from tech industry giants.

The benchmark 10-year Treasury note yield briefly climbed back above the key 5% level before ticking down. It was last trading at about 4.85%.

The tech-heavy index added 0.27%, but the Dow Jones Industrial Average slipped 0.58%, and the S&P 500 fell 0.17%.

— CNBC's Brian Evans contributed to this report.

Bitcoin breaks above $35,000 for the first time in more than a year

The price of bitcoin broke through the $35,000 level on Monday night for the first time since May 2022.

The cryptocurrency was last more than 10% higher at $34,611.38, according to Coin Metrics. At about 10:30 p.m. ET it rose as high as about $35,100. The rally brings bitcoin up about 110% from its 2022 low as well as for 2023.

The action came after several days of excitement in the market about the potential for a spot bitcoin ETF in the U.S. pushed bitcoin's price higher over the weekend, leading to short liquidations. Bitcoin has seen about $184.77 million in short liquidations over the past 24 hours, according to crypto data provider CoinGlass.

— Tanaya Macheel

Japan business activity posts first contraction since December 2022

Japan's business activity contracted in October, the first time since December 2022, according to flash estimates by the au Jibun bank.

The country's composite purchasing managers index came in at 49.9, compared with 52.1 in September.

The drop was mainly due to a sharper fall in manufacturing activity, with the manufacturing PMI showing a faster rate of contraction at 47.6 against September's 48.7.

The bank noted that services activity remained in expansion, but grew at the weakest pace year-to-date "amid reports of worsening economic conditions in October." Services PMI stood at 51.1, compared with September's 53.8.

— Lim Hui Jie

Australia's business activity hits 21 month low; factory activity shrinks faster in October, services also falls into contraction

Australia's business activity fell to a 21-month low in October, according to flash estimates from Juno Bank

The country's composite purchasing manager's index stood at 47.3, down from 51.5 in the month before.

Manufacturing PMI came in at 48.0, a six month low, while services PMI was at 47.6, a 10-month low.

The bank wrote "output was reduced amid lower new orders and a drop in confidence in the [business] outlook, while cost pressures remained elevated."

— Lim Hui Jie

CNBC Pro: Earnings will 'make or break' European stocks — here's what to watch, according to analysts

Investors will look to the upcoming earnings season to see whether stocks can recover from recent losses or if more declines are ahead.

Bond yields have risen over the past three months, bringing down the value of stocks — but the more imminent and real risk is on the earnings front as we enter the third-quarter reporting season, according to Gerry Fowler, head of European equity strategy at UBS.

UBS has identified stocks that could surprise, both positively and negatively, when their earnings results are released in the coming weeks.

CNBC Pro subscribers can read more about the UBS stock picks here.

— Ganesh Rao

South Korea's producer prices climb at faster rate in October

South Korea's producer price index climbed 1.3% year-on-year in September, a faster pace than the 1% gain seen in August.

This was the second straight month of increase in the PPI, after it decreased for 12 straight months from July 2022 to June and remained in contraction territory until July.

The PPI measures monthly variations in the prices of goods shipped by industrial producers within the domestic market.

— Lim Hui Jie

CNBC Pro: AI, weight loss drugs and more: Portfolio manager names stocks to play 'new secular growth themes'

Markets may be facing "unusual amount" of uncertainty — but there are good opportunities, according to Sanjay Ayer of the U.S.-headquartered WCM Investment Management.

CNBC Pro takes a look at the stocks he sees good potential in across three "brand new secular growth themes."

CNBC Pro subscribers can read more here.

— Amala Balakrishner

Tech names rally as investors ready for earnings reports

A handful of technology stocks climbed in Monday's session as investors prepared for their earnings reports coming this week. Those gains helped the technology-heavy Nasdaq Composite rise 0.4%, performing the best of the three major indexes.

Spotify has rallied more than 3% in the session. The streaming company is one of the major names expected to report before the bell on Tuesday.

Alphabet and Microsoft both added more than 1%, while Snap gained more than 2%. All three companies are slated to post their quarterly financial releases after the bell on Tuesday.

Amazon and Meta traded up by more than 1% and 2%, respectively. Meta's report is expected after Wednesday's closing bell, followed by Amazon after the market closes on Thursday.

To be sure, not every tech stock was rising ahead of earnings. IBM and Intel, which also report later in the week, both slipped in Monday's session.

— Alex Harring

Bitcoin trades above $30,000 to start the week

Bitcoin began the Monday trading day above the key resistance level of $30,000, extending gains from the previous week — its best week since June — helped by optimism around the likelihood the market will soon get its first spot bitcoin ETF as well as a flight to safety.

At 8 a.m. ET the flagship cryptocurrency traded 2.63% higher at $30,670.90, according to Coin Metrics. Ether, crypto's other "blue chip" asset that has had a higher correlation with bitcoin recently, was up 2.5% at $1,677.44.

It has reached $30,000 at several points in 2023 but has struggled to make a sustained move higher. Investors are expecting the approval of a bitcoin ETF to change that between the end of the year and the first half of 2024.

— Tanaya Macheel

Ackman says he's covered short position in long-term Treasurys

Pershing Square's Bill Ackman said he's covered his short position in long-term Treasurys out of concern that heightened geopolitical risk could drive investors to safe-haven assets, pushing up bond prices.

"There is too much risk in the world to remain short bonds at current long-term rates," Ackman said in a post on X, formerly known as Twitter, on Monday.

Ackman, who is a billionaire hedge fund manager, first revealed he was bearish on the 30-year Treasury note in August. He has been a vocal supporter of Israel in its conflict with Hamas, posting frequently about the war.

— Alex Harring, Yun Li

S&P 500 is below a key technical level

This week starts off with the S&P 500 below a key technical that could signal further downside for stocks.

On Friday, the S&P 500 closed below its 200-day moving average for the first time March 17.

The index had tested and bounced off the 200-day level earlier this month, but the rally proved to be weak and the bounce reversed.

The Nasdaq Composite is still above its 200-day, but it is 10% below its 52-week high.

— Jesse Pound, Gina Francolla