* Asia shares hit 14-mth highs after strong U.S. retail
sales
* Rising risk appetite sends U.S. dollar to 14-month low
* Oil rises to one-year high near $76
* Aussie, NZ currencies jump as rate rise speculation grows
* Korea, Taiwan intervene to curb appreciating currencies
By Susan Fenton
HONG KONG, Oct 15 (Reuters) - Asian shares rose to 14-month
highs on Thursday as upbeat retail sales and surprisingly
bullish earnings reports in the United States buoyed risk
appetite, pushing the U.S. dollar to a 14-month low.
Shares in Japan jumped more than 2 percent as investors
bought exporters who might benefit from rising U.S. demand and
stocks in the rest of Asia firmed to their highest levels since
last August.
Positive sales and earnings data from the United States --
including from Intel Corp <INTC.O> and JP Morgan Chase & Co
<JPM.N> -- pushed the Dow Jones <.DJIA> up 1.5 percent on
Wednesday and above 10,000 points for the first time in a year.
U.S. government data showed that retail sales, excluding
autos, rose for a second straight month in September.
Growing confidence that the United States can fuel a global
economic recovery encouraged investors to buy riskier assets,
such as higher-yielding currencies, including the Australian
and New Zealand dollars, which were additionally boosted by
rising expectations for interest rate hikes.
Authorities in Taiwan, Korea and the Philippines were
spotted buying U.S. dollars to curb strength in their
currencies. Several Asia countries have intervened in recent
weeks to cap their currencies and keep them competitive in
export markets.
The Aussie dollar <AUD=> hit a 14-month high at $0.9183 to
the U.S. dollar after the Reserve Bank of Australia pointed to
more rate rises. Last week, it became the first central bank in
the Group of 20 to tighten policy as the global financial
crisis eases.
"We have said that, over time, interest rates will need to
be adjusted towards a more normal setting as the economy
recovers," Governor Glenn Stevens said in a speech. "A step in
that direction was taken last week."
In New Zealand, data showing stronger-than-expected
inflation raised the likelihood of a rise in interest rates in
coming months and sent the Kiwi <NZD=> to a 15-month high of
$0.7485.
The flow of cash into riskier assets has knocked the U.S.
dollar, a trend that pushed the currency to a 14-month low of
75.284 against a basket of currencies <.DXY> and against the
euro <EUR=> at $1.4958.
Expectations of healthy global growth prodded NYMEX crude
futures <CLc1> to a one-year high near $76 a barrel after U.S.
industry data showed a surprise drop in inventories.
Gold gold <XAU=> held above $1,060 an ounce, just below
Wednesday's record high above $1,070.
JAPAN EXPORTERS GAIN
Tokyo's Nikkei average <> rose 2.1 percent to
10,272.62, helped by auto maker Honda Motor Co <7267.T>, which
gained 2.5 percent.
The MSCI index of Asia Pacific stocks traded outside Japan
<.MIAPJ0000PUS> rose 1.4 percent to 414.96, its highest level
since August last year. The Thomson Reuters index of regional
shares <.TRXFLDAXPU> was up 0.8 percent.
Shares in Hong Kong <> rose 1.6 percent and those in
Shanghai <> increased 0.8 percent.
Bullish U.S. earnings reports boosted technology shares in
Taiwan, lifting Taiwan's benchmark stock index <> by
nearly 1 percent.
Shares in Acer Inc <2353.TW>, which surpassed Dell Inc
<DELL.O> in the third quarter to become the world's No. 2 PC
maker behind Hewlett-Packard <HPQ.N>, rose 1 percent.
[]
(Additional reporting by Gyles Beckford in WELLINGTON and
Anirban Nag in SYDNEY; Editing by Neil Fullick)
