Asian stocks rise

Markets in Asia-Pacific were high as many in the region observed the Lunar New Year holiday.

In Australia, the S&P/ASX 200 rose 0.17 percent in Asian morning trading after a tech-enhanced rally ahead of Wall Street’s big benefit reports. The New Zealand S&P/NZX 50 traded just above the straight line.

Nikkei 225 was up 1.61% and Topix was up 1.08%. The Japanese yen continued to trade above 130 against the US dollar for the second day in a row and lastly stayed at 130.53.

The yield on 10-year Japanese Government Bonds is above the upper ceiling of the central bank’s tolerance range. undercontinued to see progress and finally remained at 0.39 percent.

The Au Jibun Bank Flash Japan Manufacturing Purchasing Managers Index will be released later in the day. Markets in China, Hong Kong, Taiwan, South Korea, Malaysia and Singapore are closed for holidays.

The Nasdaq Composite rose more than 2 percent in the US on optimism that the Fed could slow rate hikes. Last week, economic data showed a decline in wholesale prices and retail sales.