Wall Street expected to open higher after upbeat US data

Official figures showed consumer spending in the U.S. rose 1 percent in April, the largest amount in more than six years, led by a big jump in purchases of autos and other durable goods.

The strong gain for consumer spending, which accounts for 70 percent of economic activity, is a good sign that the economy is doing better in the current quarter after nearly stalling out at the start of the year.

Chinese stocks jumped on speculation that global stock benchmark provider MSCI may include yuan-denominated shares in its Emerging Markets Index for the first time.

Japan's benchmark Nikkei 225 rose 1 percent to finish at 17,234.98 and South Korea's Kospi added 0.8 percent to 1,983.40.

Benchmark U.S. crude oil rose 26 cents to $49.59 per barrel in electronic trading on the New York Mercantile Exchange.