Asian stock indices open the month mostly higher

Asian stock indices opened the first session of December mostly higher, with Japan, Australia, China, and South Korea gaining ground, while New Zealand dipped, amid mounting hopes for Covid 19 vaccines. 

From Japan, unemployment rose to 3.1% as expected, while capital spending fell 10.6% in the third quarter. 

Japan's manufacturing PMI improved to 49 from 48.7, beating estimates of 48.3. 

From Australia, current account surplus is expected down to 100 billion dollars from 16.3 billion in the second quarter, while construction spending rose 3.8%, slowing down from 16.2% in September. 

The Reserve Bank of Australia voted to maintain rates at 0.10%, a record low, as expected. 

Later today, Federal Reserve Chair Jerome Powell is due to testify on the CARES Act before the Committee on Banking, Housing, and Urban Affairs, in Washington DC.

Japan's TOPEX rose 0.85%, while Nikkei 225 surged 1.51% to 26,834. 

China's CSI 300 rallied 1.56%, while Shanghai rose 1.31% to 3,436. 

Hong Kong's Hang Seng climbed 1.02%, while South Korea's KOSPI powered up 1.35%. 

New Zealand's NZX 50 inched down 0.10%, while Australia's S&P/ASX 200 advanced 1.28% to 6,601.