Global financial markets presented a mixed performance on Monday as several Asian exchanges operated on limited schedules or remained closed in observance of the Lunar New Year holiday. European markets opened positively with Germany’s DAX climbing 0.2% to 24,958.01, while Britain’s FTSE and Paris’s CAC 40 both advanced 0.3% to 10,479.47 and 8,333.81 respectively.
Asian markets displayed divergent trends with Japan’s Nikkei 225 declining 0.2% to 56,806.41 following disappointing economic data. Japan’s latest GDP figures revealed an annualized growth rate of merely 0.2% for the October-December quarter, falling short of economist projections. This sluggish economic performance has increased expectations that Prime Minister Sanae Takaichi will accelerate stimulus measures including increased government spending and tax reductions, according to Marcel Thieliant of Capital Economics.
Trading volumes remained subdued with closures across Chinese, South Korean, and Taiwanese markets. Hong Kong’s Hang Seng managed a 0.5% gain during its abbreviated session, closing at 26,705.94. Australia’s S&P/ASX 200 added 0.2% while India’s Sensex increased 0.4%.
U.S. futures indicated positive momentum with S&P 500 and Dow Jones Industrial Average futures both rising 0.4%, though markets remained closed for Presidents Day. This followed a period of stabilization on Friday after earlier sell-offs driven by artificial intelligence sector concerns that particularly impacted software companies.
Commodity markets experienced declines with gold dropping 0.3% to $5,030.30 per ounce and silver falling 1.2% to $77.05. Oil prices also retreated with U.S. benchmark crude declining 34 cents to $62.55 per barrel and Brent crude decreasing similarly to $67.41. Currency markets saw the U.S. dollar strengthen to 153.33 Japanese yen from 152.64, while the euro slightly weakened to $1.1867 from $1.1872.