2017.02.2106:00:00UTC+00Asian Stocks Climb After US Market Holiday

Asian shares were higher as investors await the reopening of U.S. markets following the president's day holiday. Gold fell while crude oil rose towards $54 per barrel.

Global equities are approaching a record high after Trump's election prompted optimism in economic expansion amid signs of a pickup in inflation. Japan's Topix index, which notched a high at the beginning of 2017, is trading within a range of around three percentage points in the past 49 days, its narrowest since 1988. The Topix index was up 0.6 percent, extending its gains for the second day. South Korea's Kospi index soared 0.9 percent to its highest level since July 2015.

China's Shanghai Composite index advanced 0.4 percent. Hong Kong's Hang Seng fell 0.8 percent and the Hang Seng China Enterprise Index shed 0.4 percent.

Gold was down 0.4 percent to $1,233.66 per ounce. The precious metal has fluctuated between gains and losses in the past four sessions. Oil was 0.8 percent higher to $53.83 per barrel, climbing for the third consecutive day.