GLOBAL MARKETS-Asian shares, oil buoyant on economic revival hopes

(Adds Chinese shares in paragraph 3, analyst comment in
paragraph 13)
* Asian stock markets : https://tmsnrt.rs/2zpUAr4
* MSCI ex-Japan rises, edging closer to recent all-time high
* Hopes of $1.9 trln U.S. stimulus, vaccines boosting
sentiment
* Strong company earnings season also aiding equities
sentiment
* U.S dollar retreats from recent highs
* Oil near $60 a barrel

By Swati Pandey
SYDNEY, Feb 8 (Reuters) - Asian shares hovered near record
highs on Monday while oil edged closer to $60 a barrel on hopes
a $1.9 trillion COVID-19 aid package will be passed by U.S.
lawmakers as soon as this month just as coronavirus vaccines are
being rolled out globally.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was last up 0.3% at 717.2 after climbing as high
as 730.16 late last month.
Japan's Nikkei .N225 jumped 2% while Australian shares
advanced 0.8% led by technology and mining shares. Chinese
shares were mildly positive with the blue-chip CSI300 index
.CSI300 up 0.1%.
E-mini futures for the S&P 500 ESc1 added 0.4% in early
Asian trading.
Hopes of a quicker economic revival and supply curbs by
producer group OPEC and its allies pushed oil to its highest
level in a year as it edged near $60 a barrel. O/R
Global equity markets have scaled record highs in recent
days on hopes of faster economic revival led by successful
vaccine rollouts and expectations of a large U.S. pandemic
relief package.
On Friday, the Nasdaq and S&P 500 hit all-time highs on
stronger-than-expected corporate results in the fourth quarter
and as companies were on track to post earnings growth for the
first quarter instead of a decline. .N
The rallies came even as U.S. data painted a dour picture of
the country's labour market with payrolls rising by 49,000, half
of what economists were expecting.
The weak report spurred the push for more stimulus,
underscoring the need for lawmakers to act on President Joe
Biden's $1.9 trillion COVID-19 relief package.
Biden and his Democratic allies in Congress forged ahead
with their stimulus plan on Friday as lawmakers approved a
budget outline that will allow them to muscle through in the
coming weeks without Republican support.
U.S. Treasury Secretary Janet Yallen predicted the United
States would hit full employment next year if Congress can pass
its support package.
"That's a big call given full employment is 4.1%, but one
that will sit well with the market at a time when the
vaccination program is being rolled out efficiently in a number
of countries," said Chris Weston, Melbourne-based chief
strategist at Pepperstone.
Expectations of a U.S. economic recovery have not boosted
the greenback though, "because this shift in prospects is seen
by the market as part of a global recovery," Westpac economists
wrote in a note.
"Investors therefore favour risk taking, and so value the
safety of the U.S. dollar less."
Indeed, the greenback came off a four-month high against the
Japanese yen to be last at 105.49. JPY=
The euro EUR= was a tad weaker after rising 0.7% on Friday
to a one-week high of $1.2054. It was last at $1.2034.
The risk-sensitive Australian dollar AUD=D3 eased from a
one-week high to $0.7675.
In commodities, Brent crude and U.S. crude CLc1 climbed 59
cents each to $59.93 and $0.57.44 respectively.
U.S. gold futures GCv1 were up 0.1% at $1,815.4 an ounce.

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(Editing by Shri Navaratnam)