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Asian shares quietly consolidated recent hefty gains on Monday as the Lunar New Year holiday made for thin trading, while dismal economic data out of Japan took some air out of that booming market.
China, South Korea, Taiwan were among the markets that were closed, leaving currencies and bonds becalmed, but precious metals under fresh pressure.
Japan reported its economy grew a miserly 0.2% annualised in the December quarter, far below the 1.6% gain forecast as government spending dragged on activity.
The disappointing figures underline the tough task ahead for Prime Minister Sanae Takaichi and should support her push for more aggressive fiscal stimulus.
