Asia opens higher in tandem with Wall Street

Asian stock indices opened the fifth session of the week higher after Wall Street hit new record highs on signs of recovery in the labor sector while Covid vaccination efforts continue to spread. 

From Australia, the AIG services index rose to 54.3 from 52.9 in November. 

Reserve Bank of Australia governor Philip Lowe testified earlier ahead of lawmakers, ruling out rate hikes at least until late 2024, while consumer prices aren't expected to reach 2.5% when wage growth is limited at 2%. 

Lowe opened the door for more asset purchases to support the economy, while asserting he sees no risks in assets valuation for the time being. 

From Japan, household spending fell 0.6% in December, while the leading index slowed down to 94.9 from 96.4. 

Japan's TOPOX rose 1.23%, while Nikkei 225 rose 1.27% to 28,701. 

China's CSI 300 rose 0.88%, while Shanghai climbed 0.46% to 3,518. 

Hong Kong's Hang Seng rose 0.42%, while South Korea's KOSPI climbed 0.31% to 3,097. 

New Zealand's NZX 50 rose 0.14%, while Australia's S&P/ASX 200 climbed 1.07% to 6,837.