Asian stocks follow Wall Street higher with China, Korea closed

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Stock prices in Tokyo and Sydney followed Wall Street higher Wednesday while China, South Korea and Southeast Asian markets were closed for the Lunar New Year.

Wall Street's benchmark S&P 500 index gained 0.7% on Tuesday, boosted by gains for energy and tech stocks in a late burst of buying.New Zealand and Jakarta also gained.

But political opponents claimed the real rate was about double the headline figure, which they said was was skewed because it didn't count people who weren't actively seeking work. The Statistics New Zealand figure was seasonally adjusted for the quarter ending December and was the lowest since current record-keeping began in 1986.

The virus pandemic is still a lingering threat and each new variant could bring a surge of cases that threatens businesses and consumer activity.

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