Asia: Chinese markets still closed, Japan hits 15-year high

Most Asian stocks were higher on Monday while some markets remained closed for the Chinese New Year holiday.

Japan's Nikkei 225 climbed 0.73% to 18,466 points hitting a 15-year high, despite Bank of Japan's policy board raising concerns over the country's inflation target on Sunday

Three of the central bank's members said they had doubts it will meet the inflation target due to falling oil prices.

However, BoJ said the bank's monetary policy is making "steady progress" against inflation.

Australia's ASX was also up 0.45%.

The Asian markets reacted positively to the news that the Eurozone approved a four-month extension on Greece's bailout on Friday, two months shorter than requested. The agreement is subject to Athens submitting details on the reform and budgetary measures it plans to take by Monday.

Greek Prime Minister Alexis Tsipras warned the country still faces "a long and difficult road" ahead.

China, Taiwan and Vietnam were still closed for the Chinese New Year holiday.

In corporate news, Australian property and infrastructure group Lend Lease rose 0.9% after increasing its half-year profits thanks to a strong housing market.

Japanese medical science group Terumo gained 1.1% thanks to an optimistic trading update.

Galaxy Entertainment lost 3.2% following Credit Suisse's expectations of weak casino revenues during the holidays in Macau.