Most Asian markets closed for holidays

Bangkok - Stock markets in Hong Kong, mainland China and Seoul were among those closed Monday for the Lunar New Year holiday. Japanese markets were also shut for a public holiday.

Australia's S&P/ASX 200 was marginally higher at 4,973.20, with a positive earnings report from retailer HB Hi-Fi. helping to boost retail stocks. JB Hi-Fi surged 15.4% after reporting its first half net profit had risen 3% to 82 million Australian dollars ($84.6 million). David Jones rose 3.6% and Myer Holdings added 3.1%.

Key stock indexes in the Philippines and Indonesia also rose while markets in Singapore, Taiwan and Vietnam were closed for holidays.

Benchmark oil for March delivery rose 5 cents to $95.77 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 11 cents on the Nymex on Friday to close at $95.72 a barrel.

In currencies, the euro rose to $1.3372 from $1.3363 late Friday in New York. The dollar fell to ¥92.51 from ¥92.83.