* Asian shares gain, Nikkei hits four-month high
* Dollar rises against yen and holds firm vs euro
* Gold rises, oil at highest this month
By Kevin Yao
SINGAPORE, Dec 28 (Reuters) - Asian stocks rose on Monday
on increasing optimism about the global economy, with Tokyo
shares hitting their highest in four months, while the U.S.
dollar gained against the yen and held firm against the euro.
Signs of a recovery in the United States also lifted oil
prices to a four-week high.
The MSCI index of Asia Pacific stocks outside Japan
<.MIAPJ0000PUS> rose almost 0.7 percent in thin trade as
markets in Australia and New Zealand remained shut for
holidays.
The Thomson Reuters index of Asia ex-Japan equities was up
0.6 percent <.TRXFLDAXPU>.
Chinese stocks led the regional gains, with the Shanghai
Composite Index <> jumping 1.7 percent, lifted by Premier
Wen Jiabao's comments on Sunday that Beijing was committed to
seeing through its stimulus package to help cement the economic
recovery.
The Shanghai index has gained 5 percent after falling to a
seven-week low on Tuesday, as investors were encouraged by a
series of data suggesting the world's third largest economy is
on a brisk reovery path.
Japan's Nikkei average <> rose 1 percent to its
highest in four months on data showing factory output rising
for the ninth straight month in November and on stable currency
moves.
"The industrial output data was stronger than what the
market had expected and that's reinforcing the positive
sentiment. The stable dollar/yen moves are also making it
easier to pick up exporter shares," said Tsuyoshi Segawa,
equity strategist at Mizuho Securities.
Japan's industrial output rose a more-than-expected 2.6
percent in November, the strongest gain in six months as rising
exports to Asia bode well for a recovering economy.
[]
That followed upbeat U.S. data on Thursdsay which showed a
drop in initial jobless claims and growth in durable goods
orders.
In China, industrial profits nationwide rose 7.8 percent in
the first 11 months from a year earlier, compared with a fall
of 10.6 percent in the first eight months of the year.
[]
U.S. and European markets were shut on Friday for
Christmas
after closing at their highest in over a year on Thursday.
The dollar was at 91.66 yen <JPY=>. It ended at around
91.50 yen on Thursday, below a two-month high of 91.88 yen set
last week as investors covered short dollar positions before
the year-end.
The euro <EUR=> rose 0.2 percent to $1.4355, after climbing
to a session peak of $1.4418, according to Reuters data.
The euro is down 4.3 percent against the dollar so far this
month and on course for its biggest monthly fall since January,
dented by concerns about sovereign ratings after a third
ratings agency downgraded Greece's debt.
U.S. crude oil for February delivery <CLc1> gained 55
cents, or 0.6 percent, to $78.60 a barrel, highest since Dec. 1
supported also by large declines in U.S. crude inventories.
Gold prices <XAU=> gained up 0.9 percent to $1,113.45 in
thin trade as many investors stayed to sidelines after U.S. and
European markets were closed for Christmas.
(Editing by Kazunori Takada)
