Japanese shares rose Monday as a rally in the yen paused and after U.S. equities capped their best week in five years. The dollar fell against major peers and oil climbed above $62 a barrel.

Asian equities are building on their best week since September 2016, with stocks in Seoul and Sydney also gaining, even as markets in Hong Kong and China are closed for the Lunar New Year holiday and in the U.S. for Presidents’ Day. S&P 500 Index futures were higher after the benchmark closed little changed Friday, erasing most gains as investors assessed the implications of new indictments in the Russia/U.S. election investigation. The index ended 4.3 percent higher for the week and the 10-year Treasury yield fell back below 2.9 percent.

Meanwhile, the yen drifted around a 15-month high as data showed Japan’s exports and imports grew strongly in January from a year earlier in a sign the economy continues to expand. The increase in imports resulted in the first monthly trade deficit since May 2017.

Global equities staged a recovery last week after their worst selloff in two years as investors fretted about the outlook for high interest rates and inflation and U.S. 10-year Treasury yields approached 3 percent.

Traders return to their desks in Hong Kong on Tuesday, while Chinese markets reopen on Thursday.

Terminal users can read more in our markets blog.

Here are some key events scheduled for this week:

The Reserve Bank of Australia releases minutes of its February meeting Tuesday.   The Federal Reserve Wednesday will release minutes of its Jan. 30-31 meeting, Janet Yellen’s last as chair, where officials kept the rate unchanged. Bank of England Governor Mark Carney addresses the Parliament’s Treasury Committee on the Feb. 8 policy decision and forecasts. A slew of U.K. economic data is due including fourth-quarter GDP and employment figures. Fed policy makers speaking this week include New York Fed President William Dudley and Atlanta Fed President Raphael Bostic. Cleveland Fed President Loretta Mester is among speakers at the U.S. Monetary Policy Forum in New York City. Japan updates on CPI on Friday. Companies announcing earnings this week include: Walmart, Home Depot, HSBC, BHP Billiton, Glencore, Barclays.These are the main moves in markets:

Stocks

The Topix index jumped 1.6 percent as of 11:15 a.m. in Tokyo and the Nikkei 225 Stock Average rose 1.4 percent. Australia’s S&P/ASX 200 added 0.5 percent and the Kospi index climbed 0.8 percent. Futures on the S&P 500 rose 0.3 percent. The underlying measure rose less than 0.1 percent at the close of trading in New York Friday. The MSCI Asia Pacific Index was up 0.8 percent.

Currencies

The Bloomberg Dollar Spot Index lost 0.2 percent. The Japanese yen was little changed at 106.18 per dollar. The euro rose 0.2 percent to $1.2431. The British pound advanced 0.2 percent to $1.4049.

Bonds

The yield on 10-year Treasuries fell four basis points to 2.87 percent. Treasuries are not trading Monday because of the holiday in the U.S. Australia’s 10-year bond yield lost three basis points to 2.89 percent.

Commodities

West Texas Intermediate crude rose 1.1 percent to $62.37 a barrel, on track to gain for a fourth day. It posted its first weekly increase since last month. Gold added 0.3 percent to $1,350.68 an ounce.