Stock market today: Asian markets mixed, with most closed for holidays, after S&P 500 tops 5,000

Asian shares are mixed with most regional markets closed for holidays

BANGKOK -- Asian shares were mixed on Monday, with most regional markets closed for holidays, while U.S. futures edged lower after the S&P 500 ended last week above 5,000.

Australia's S&P/ASX 200 slipped 0.3% to 7,621.10 and the Sensex in India edged 0.1% higher, to 71,647.74. Thailand's SET was up 0.1% and in Jakarta, the benchmark gained 0.6% ahead of an election to be held on Wednesday.

With mainland Chinese markets closed for the week for the Lunar New Year, there was a dearth of market moving news. Tokyo's markets also were shut Monday, for a one-day holiday.

This week will bring an important update from the United States on consumer inflation expectations. Japan is due Thursday to announce its GDP growth for the last quarter of 2023.

The U.S. price data may not have a major impact on monetary policy, “However, the good news is that U.S. inflation probably decreased at the beginning of the year, reinforcing expectations that the Federal Reserve may consider interest rate cuts in the coming months,” Stephen Innes of SPI Asset Management said in a commentary.