Mixed Asian Markets and Glittering Insights: Lunar New Year's Eve

Asian shares showed mixed results as markets prepared for Lunar New Year. Japan's economy grew sluggishly, while trading in China, South Korea, and Taiwan paused. Gold and silver prices fell, and US markets remained steady amid artificial intelligence concerns in the tech sector, affecting stocks like Nvidia.

Asian markets presented a mixed outlook on Monday, and gold prices dipped as several stock exchanges in the region remained shut for the approaching Lunar New Year festivities. Japan's Nikkei 225 slid by 0.2%, closing at 56,806.41, following a report of slower-than-expected economic growth in Japan for the fourth quarter.

With trading halted in China, South Korea, and Taiwan, limited activity was observed. Meanwhile, Hong Kong's Hang Seng index witnessed a slight boost, gaining 0.5% in a short session. Australian and Indian markets also saw modest gains, while US indices showed stability despite concerns over AI-driven disruptions.

In contrast, gold and silver prices suffered, with gold falling by 0.6% to $5,015.40 per ounce. Oil prices displayed minimal movement, staying relatively steady as the US dollar showed strength against key currencies.

(With inputs from agencies.)