Asian shares track U.S., European gains, dollar hovers near seven-week high

SINGAPORE (Reuters) - Asian shares climbed on Tuesday, following positive leads from Europe and the U.S. as oil's longest stretch of daily price gains in over five years lifted energy shares and investor rotation out of technology into financials continued. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> added 0.2 percent while Japan's Nikkei <.N225> jumped 0.5 percent, thanks to a weaker yen. Australian shares <.AXJO> advanced 1.4 percent, while South Korea's KOSPI <.KS11> was little changed Overnight on Wall Street, the S&P 500 index <.SPX> and the Dow Jones Industrial Average <.DJI> posted gains of 0.2 percent and 0.6 percent, respectively, led by financials and energy shares. The Nasdaq <.IXIC> lost 0.5 percent, as the rotation away from technology names continued. Nifty Trading Tips  

U.S. markets are closed on Tuesday. European markets posted even stronger gains, with the FTSEurofirst 300 jumping as much as 1.2 percent following steep losses last week. In currency markets, the dollar stood at 113.36 yen early on Tuesday, within a hair of a seven-week high of 113.47 touched on Monday. The dollar jumped after a private index of June domestic manufacturing activity rose more than expected while other data showed government outlays on construction projects in May at their highest in more than four years.That sent two-year U.S. Treasury yields surging to their highest level since November 2008. Future & Option Trading Tips

"Expectations towards the Federal Reserve hiking interest rates later this year had perhaps sunk too low," said Shin Kadota, a senior strategist at Barclays in Tokyo. "We are now seeing such lowered expectations being reversed a little."The dollar index, which tracks the greenback against a basket of trade-weighted peers, slipped about 0.1 percent to 96.122 early on Tuesday, but held on to most of Monday's 0.6 percent gain.The euro rose 0.1 percent to $1.1373 on Tuesday. Financial Astrology Tips