Asia markets set for mixed open as investors parse through Japanese auto earnings

Investors in the region will parse through earnings reports including those of Japanese giants Toyota and Mitsubishi, as well as Singapore's UOB.

The trading action could be a reminder that Chinese stock rallies have proved hard to sustain in the past. Other helpful signs for the market include credit spreads that have narrowed, the VIX Volatility Index returning"to its pre-correction levels," bank stock indexes at their highest since late March and consumer discretionary stocks doing better relative to consumer staples companies.Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, speaks during an interview with Reuters in New York City, New York, May 22, 2023.

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