Stocks were higher in Asia on Monday but most markets were closed for the Lunar New Year holiday, with Shanghai markets closed all week.

Tokyo’s Nikkei 225 index rose 1.1 percent to 26,852.85 and Sydney’s S&P/ASX 200 rose 0.1 percent to 7,456.90. The gains followed Friday’s rally for technology stocks, which offset worries about the ailing US economy.

In other trading, the US benchmark crude oil lost in electronic trading on the New…