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

(Corrects spelling of surname of U.S. Treasury Secretary in
12th paragraph)
* Asian stock markets : https://tmsnrt.rs/2zpUAr4
* MSCI ex-Japan rises, edging closer to recent all-time high
* European futures, U.S. E-mini futures gain
* Hopes of $1.9 trln U.S. stimulus, vaccines boosting
sentiment
* U.S dollar retreats from recent highs
* Oil crosses $60 a barrel

By Swati Pandey
SYDNEY, Feb 8 (Reuters) - Asian shares hovered near record
highs on Monday while oil surpassed $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.
In a sign Europe and U.S. markets would start strong,
eurostoxx futures STXEc1 and Germany's DAX FDXc1 rose 0.7%
each, while London's FTSE futures FFIc1 added 0.6%. E-mini
futures for the S&P 500 ESc1 were up 0.4% in early Asian
trading.
The mood was upbeat in Asia with all major indexes clocking
gains.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS rose 0.5% to 721.11, not far from an all-time
high of 730.16 touched late last month.
Japan's Nikkei .N225 jumped about 2% while Australian
shares ended 0.6% higher. Chinese shares advanced with the
blue-chip CSI300 index .CSI300 up 1.3%.
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 crossed $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 Yellen 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 105.50. JPY=
The euro EUR= was a tad weaker at $1.2036 after rising
0.7% on Friday to a one-week high.
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 and Jacqueline Wong)