Japan's markets higher as most of Asia shut for New Year

Tokyo's Nikkei 225 closed higher on Monday, with most of Asia shut for the Lunar New Year celebrations.

The benchmark index finished 1.1% up at 17,004.30.

On Friday, the US said it had added 151,000 jobs to its economy in January, pushing the country's unemployment rate down to 4.9%.

The numbers were lower than expected, however, marking a big slowdown from December's addition of 292,000 jobs.

The world's best-selling car marker, Toyota, saw its shares down by 1.2% on the Nikkei.

On Friday, Toyota reported a 4.7% rise in net income for the three months to December. However, the firm's operating profit for the quarter fell by 5.3%, missing forecasts.

Elsewhere, Australia's market was one of the only other exchanges open on Monday. China's mainland markets are shut all week for Lunar New Year celebrations. Hong Kong and South Korea are closed for three days.

"Lunar New Year [means] there is an eerie quiet, with only Japan and Australia open for business for most of the week," said IG Markets' Evan Lucas.

"Volumes will be well below average and there tends to be a build-up of global leads that is released once Asian investors return to their desk - expect 'release valve' trading late in the week," he added.

Australia's S&P/ASX 200 closed flat at 4,975.40 points.