GLOBAL MARKETS-Asian shares at highest since early March, weak dollar boosts commodities

* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* Global asset performance http://tmsnrt.rs/2yaDPgn
* World FX rates http://tmsnrt.rs/2egbfVh

By Alun John
HONG KONG, April 20 (Reuters) - Asian shares hit a
six-and-a-half week top on Tuesday, shaking off an initial drag
from tech-driven Wall Street losses, while the dollar stayed at
multi-week lows against most other major currencies in a boost
for commodities.
Chinese blue chips .CSI300 rose 0.30% and Korea .KS11
gained 0.38%, helping MSCI's broadest index of Asia-Pacific
shares outside Japan .MIAPJ0000PUS to add 0.26% and reach its
highest since early March.
E-mini futures for the S&P 500 ESc1 rose 0.23%, but Euro
Stoxx 50 futures STXEc1 fell 0.13% and FTSE futures FFIc1
were down 0.07%, suggesting a more cautious European open.
"It is a Goldilocks scenario for Asia in the sense that
you've got expectations of double digit earnings growth, and
valuations which look attractive relative to the U.S. equity
market and even the MSCI world index ," said Andrew Gillan head
of Asia ex Japan equities at Janus Henderson Investors.
However, Asian valuations are fair rather than cheap
relative to their historical levels, Gillan noted.
Japan bucked the trend in Asia as the Nikkei .N225 fell
2.13% on worries that the possible reintroduction of COVID-19
emergency measures in the country's biggest cities would slow
the economic recovery.
In currency markets, the dollar continued its recent
weakness, falling further from six-week lows it hit on Monday.
The risk friendly Aussie AUD= rose as much as 0.6% against
the greenback to reach a one-month high, partly due to upbeat
remarks from Australian central bank.
The euro EUR= gained 0.24%.
"In our view, USD can remain heavy this week as focus shifts
from U.S. economic outperformance to the improving global
economic outlook more broadly," analysts at CBA wrote in a
research note.
The weak dollar helped push up commodity prices.
U.S. crude CLc1 and Brent LCOc1 both gained about 1%,
while three-month London copper CMCU3 traded just shy of its
highest level since August 2011. O/R
Spot gold XAU= rose 0.17% to 1,771.37 per ounce. GOL/
Earlier, major Wall Street indexes drew back from record
highs hit list week, dragged by shares of Tesla Inc TSLA.O .
The electric-car maker slid 3.4% after a vehicle believed to
be operating without anyone in the driver's seat crashed into a
tree on Saturday north of Houston, killing two
occupants. The tech-heavy Nasdaq .IXIC was the biggest mover, falling
0.98%, while the Dow Jones Industrial Average .DJI declined
0.36%, and the S&P 500 .SPX 0.53%. .N
The yield on benchmark 10-year Treasury notes US10YT=RR
rose to 1.6119% compared with its U.S. close of 1.599%.

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(Editing by Sam Holmes and Himani Sarkar)