Asian stocks on hold for Lunar New Year, bitcoin eyes record highs

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TOKYO/NEW YORK - Asian shares hovered just below a record high on Friday as mixed US economic data caused some investors to show restraint after a global stock market rally pushed many bourses to dizz

ying heights.

Markets in Greater China and most of Southeast Asia are closed on Friday for the Lunar New Year holiday. China’s stock and bond markets, foreign exchange and commodity futures markets are closed through Feb. 17 for the holiday. “We didn’t get much of a lead-in from the northern hemisphere,” Piotrowski said. “Markets are in a bit of a holding pattern waiting for the next catalyst and it is just a question of whether that catalyst is going to be a positive one or a negative one.”

On Wall Street, the Nasdaq and S&P 500 eked out gains of 0.4 percent and 0.2 percent, respectively, while the Dow Jones Industrial Average slipped 0.02 percent. Spot gold fell 0.17 percent to $1,822.21 per ounce. U.S. gold futures fell 0.14 percent to $1,829.50. Gold prices are still on track for their best week in three amid broad dollar selling.

 

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