hong kong — Asian stocks rose on Monday and gold fell, as many stock markets were closed or traded for half the day ahead of Lunar New Year celebrations.
The Nikkei 225 index in Tokyo rose 0.1% to 56,996.21 points, after the government announced that… Japan’s economy It grew slower than economists expected in the October-December quarter, at an annual rate of 0.2%.
The slow growth rate increases the likelihood that Japanese Prime Minister Sune Takaishi will press ahead with plans to revive the economy by increasing government spending and cutting taxes, Marcel Thiliant, head of Asia-Pacific at Capital Economics, wrote in a note.
Trading was thin with stock markets in China, South Korea and Taiwan closed. The first day of the Lunar New Year this year falls on Tuesday.
Hong Kong’s Hang Seng rose 0.5% in the half-day session, closing at 26,705.94.
In Australia, S&The P/ASX 200 rose 0.3% to 8,940.60. India’s Sensex rose 0.2%.
US futures rose. The future for S&The P 500 rose 0.2%, while the Dow Jones Industrial Average also rose 0.2%. US stock markets are also closed on Presidents Day, a holiday.
US stocks calmed on Friday after an earlier sharp decline on concerns about artificial intelligence disruptions across industries that particularly hit software companies hard.
Report appears Inflation calmed last month It also helped stabilize markets. Data suggesting that price pressures in the US may be easing has provided more scope for this Another Fed rate cut.
S&The P 500 rose less than 0.1% to 6,836.17. The Dow Jones Industrial Average added 0.1% to 49,500.93 points. The Nasdaq Composite Index fell 0.2% to 22,546.67 points.
Computer chip maker Nvidia, the heaviest company in the S&The P 500 index fell 2.2% on Friday. Technology company AppLovin’s stock rose 6.4% after that It lost nearly a fifth of its value on Thursday, as investors focused on how artificial intelligence could disrupt software businesses and technology-related companies.
In other trading early Monday, gold and silver prices declined. The price of gold fell 1.1% to $4,994.60 an ounce – down from the $5,000 level – and the price of silver fell 3.8% to $75.04 an ounce.
Oil prices were stable.
The price of US crude oil rose 5 cents to $62.94 a barrel, while Brent crude, the international standard, rose 5 cents to $67.80 a barrel.
The US dollar recorded 153.08 Japanese yen, up from 152.64 yen. The euro was trading at $1.1867, down from $1.1872.