HONG KONG (AP) — On Monday, gold fell while global stocks largely increased. Ahead of the Lunar New Year celebrations, Japanese equities fell and a number of Global Asian financial markets were closed or shuttered for half a day. Germany’s DAX was up 0.2% at 24,958.01 in early European trade. Both the Paris-based CAC 40 and the British FTSE increased by 0.3% to 8,333.81 and 10,479.47, respectively.
In Asia, Tokyo’s Nikkei 225 was down 0.2% to 56,806.41, after the government reported that Japan’s economy grew more slowly than economists had expected in the latest October-December quarter, at an annualized 0.2%.
According to a report by Marcel Thieliant, head of Asia Pacific at Capital Economics, the slow growth rate makes it more likely that Japanese Prime Minister Sanae Takaichi would move forward with plans to boost the economy by lowering taxes and increasing government expenditure.
Due to the closure of the stock markets in China, South Korea, and Taiwan, trading was light. This year, Tuesday is the first day of the Lunar New Year. In its half-day session, Hong Kong’s Hang Seng closed at 26,705.94, up 0.5%. The S&P/ASX 200 in Australia increased by 0.2% to 8,937.10. The Sensex in India was up 0.4%.
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