RPT-GLOBAL MARKETS-Asian shares gain, dollar near '09 lows
* Asian stocks at 8-month highs, Nikkei up
* Dollar struggles off 2009 lows, Aussie boosted by GDP
* Europe set to open mixed as U.S. data awaited
* Oil steadies above $68 a barrel after U.S. inventories (Repeats item to more subscribers without changes in text)
TOKYO, June 3 (Reuters) - Asian shares rose to fresh eight-month highs on Wednesday, as U.S. home sales data added to optimism that the global economy is through the worst, while the dollar struggled off its latest set of lows for the year.
Oil succumbed to profit-taking after a six-day rally which took it to a seven-month high above $69 a barrel. Data showed U.S. crude inventories fell less than expected last week, but crude futures later steadied above $68 a barrel CLc1 [O/R]
Financial spreadbetters expected Europe to open mixed with Britain's FTSE 100 .FTSE, Germany's DAX .GDAXI and France's CAC-40 .FCHI seen starting either slightly up or slightly down.
Japan's benchmark Nikkei stock average .N225 rose 0.4 percent, buoyed by smelters and glassmakers such as Asahi Glass (5201.T) after brokerage upgrades citing signs of hope for the global economy. [.T]
The MSCI index of Asian shares excluding Japan .MIAPJ0000PUS, which is now at levels not seen since the month Lehman Brothers collapsed, rose 1.3 percent and scored its latest eight-month peak.
The index has risen about 60 percent in the past three months as investor confidence has grown that the global downturn has slowed, with latest evidence coming from a surprise surge in U.S. pending homes sales. [ID:nN02503338] The Nikkei has risen about 38 percent in the same period.
"There's been enough improvement in the global economy to say that we've put the worst-case scenario behind us," said Yutaka Miura, senior technical analyst at Mizuho Securities.
The Dow Jones industrial average .DJI closed up 0.2 percent on Tuesday, the Standard & Poor's 500 Index .SPX rose 0.2 percent and the Nasdaq Composite Index .IXIC gained 0.4 percent. [.N]
Analysts remained cautious about the strength of the economic foundations for the three-month long rally in shares and higher yielding currencies and markets were awaiting U.S. data later that includes factory orders, a non-manufactoring index and a private employment report.
"We need still more proof that things are really improving," Miura said.
South Korean shares edged up 0.1 percent, helped by shipbuilders, but KB Financial Group (105560.KS), parent of top bank Kookmin, fell after it said it might sell new shares to raise capital. [ID:nSEO249141]. Continued...
