GLOBAL MARKETS-Stocks, oil rise in Asia after U.S. records

* Asian stock markets : https://tmsnrt.rs/2zpUAr4
* MSCI ex-Japan rises
* Wall Street makes new records
* Oil reaches 13-month high, Bitcoin pares overnight gains

By Alun John and David Henry
Feb 9 (Reuters) - Asian stock markets rose on Tuesday after
a record-setting day on Wall Street, while Bitcoin paused for
breath after an overnight endorsement from Tesla Inc TSLA.O
sent the cryptocurrency up 20%.
Oil also hit 13-month highs, helped by rising optimism about
a return in fuel demand.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was last up 0.32 % at 721.53 after climbing as
high as 730.16 late last month.
Korea .KS200 was an early riser, up 0.92% while Chinese
blue chips .CSI300 rose 0.49% and Hong Kong .HSI nudged up
0.24%.
Japan's Nikkei .N225 was up 0.36% and e-mini futures for the
S&P 500 EScv1 were up 0.5%.
The early action came after another day of so-called
reflation trades around the world, in which global markets bid
up stocks, oil and gold while U.S. Treasury yields held near
11-month highs.
"Reflation on the back of U.S. fiscal stimulus and positive
vaccine news remains the major theme for markets," strategists
at National Australia Bank wrote.
Expectations have been building that inflation would pick up
as governments and central banks continue massive spending and
easy money policies until officials are certain that their
economies will recover from the coronavirus pandemic.
Wall Street reached all-time closing highs on Monday as the
Nasdaq Composite .IXIC added nearly 1% and the S&P 500 .SPX
and the Dow Jones Industrial Average .DJI gained about 0.75%.
In more volatile cryptocurrency markets, Bitcoin briefly
passed $47,000 for the first time, a 20% rise, before paring
gains. It was last at $45,669.
Tesla Inc TSLA.O said overnight it had invested around
$1.5 billion in the virtual currency and expects to accept it as
payment for its cars in the future. Justin d'Anethan, sales manager at digital asset company
Diginex, said that so far most of the selling pressure in Asia
had been absorbed.
"This morning, after over $1.2billion of leveraged shorts
got liquidated, the usual sellers of crypto will probably think
twice before dumping their coins," d'Anethan said.
Oil prices continued to rise on Tuesday to 13-month highs.
Brent LCOc1 rose 33 cents, or 0.54%, U.S. West Texas
Intermediate crude CLc1 was at $58.34 a barrel, up 37 cents,
or 0.64%.
"There is a sense that the glut of oil supply is
disappearing more rapidly than anybody thought possible," said
Phil Flynn, senior analyst at Price Futures Group in Chicago.
"There seems to be a paradigm shift in the market."
Spot gold XAU= rose 0.37% to $1,837 an ounce as
expectations of a large U.S. economic stimulus package bolstered
its appeal as an inflation hedge.
Such expectations hit the dollar index =USD , which dropped
back on Tuesday after tripping at the end of last week on a
weaker-than-expected jobs report. It was last down 0.091% at
90.868.
Against the yen, JPY= the dollar was down 0.12% at 105.10.

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