Asian Shares Rise, Gold Falls as Lunar New Year Looms

Asian shares advanced on Monday while gold prices declined, with several markets closed or operating on shortened sessions ahead of Lunar New Year holidays. Tokyo's Nikkei 225 rose 0.1% to 56,996.21 after Japan's economy expanded at a slower-than-expected 0.2% annualized rate in Q4. Analysts suggest Prime Minister Takaichi may pursue fiscal stimulus to boost growth. Trading was light as China, South Korea, and Taiwan markets were closed. Hong Kong's Hang Seng gained 0.5% in its half-day session, while Australia's S&P/ASX 200 added 0.3%. U.S. futures edged higher despite a Presidents' Day holiday. U.S. stocks steadied Friday on softer inflation data, which bolstered expectations of a Federal Reserve rate cut. Nvidia fell 2.2%, while AppLovin surged 6.4% after Thursday's selloff. Gold dropped 1.1% to $4,994.60/oz, and silver fell 3.8% to $75.04/oz. Oil prices were little changed: WTI +5 cents at $62.94/bbl, Brent +5 cents at $67.80/bbl. The USDJPY was at 153.08, up from 152.64, and EURUSD at $1.1867, down from $1.1872.