Doha [Qatar], February 17: Asian markets were subdued on Monday, as the extended Lunar New Year holiday approached and Japan reported lacklustre economic growth. The holiday period meant that trading floors were closed in Shanghai, Seoul and Taipei. Hong Kong and Singapore closed after half-day sessions.
US markets are also closed for Presidents' Day. Limp GPD growth in Japan rattled the post-election high of Prime Minister Sanae Takaichi following her recent landslide win. The world's fourth-biggest economy expanded just 0.1 percent in the last three months of 2025.
The figures which undershot market forecasts of 0.4 percent add pressure on Takaichi, who made boosting economic growth a key pledge ahead of her landslide victory in February 8's snap elections. The weak growth "implies that the large supplementary budget passed at the end of November provided no boost to public spending last quarter just yet", Marcel Thieliant at Capital Economics said.
"In fact, sluggish economic activity increases the chances that Takaichi will not only press ahead with suspending the sales tax on food but enact a supplementary budget during the first half of the fiscal year that starts in April already rather than wait until the end of this year," he added.
Tokyo closed 0.2 percent down, while Hong Kong rose 0.5 percent as trading closed early for Lunar New Year.
Source: Qatar Tribune