GLOBAL Tokyo market hit 3-mth high as tech shares rally

* Dlr hits two-month high against the yen

* 3-month closing high, yen helps exporters
* Asian tech shares rally after Nasdaq hits 15-mth high

* set to open slightly higher

By Susan Fenton

HONG KONG, Dec 22 (Reuters) - Tokyo stock market rose to its highest close in three months on Tuesday as exporters were spurred by the dollar's rally against the yen and technology shares gained off the back of an Intel ( INTC - news - people ) upgrade.* DLR hits two-month highs against the yen

* Tokyo stocks mark 3-month closing high, only helps exporters

* Asian stocks rally after the tech Nasdaq hits 15-month high

* European stock markets set to open slightly higher

Susan Fenton

HONG KONG, 22 October (Reuters) -

Tokyo Stock Exchange

rose to the highest of almost three months on Tuesday as exporters were spurred by the dollar's rally against the yen and shares technology derived from the back of Intel (INTC - news - people) upgrade.

Asian shares rose in all areas, as technology stocks tracked in the rally with his colleagues on Wall Street, which the Nasdaq 15-month high.

European stock markets are intended to open slightly higher, depending on the financial spreadbetters, while the U.S. futures capital stock is 0.3 percent.

The dollar touched 91.49 yen, the highest level since the end of October, helped by the unwinding of short positions at the beginning of the year. The dollar was steady against a basket of major currencies after reaching multi-week highs on Monday.

Send a strong U.S. economic data supports the dollar, raising hopes that the U.S. Federal Reserve may raise interest rates sooner than previously thought.

"Everything is back when the spoon may or may not tightening policy and the market is heading in the belief that the tightening in the 3rd quarter of next year," said Greg Gibbs, currency strategist with RBS Sydney.

Gold picked up, trading at $ 1,094.20 an ounce after hitting a six-a-half-week low $ 1090.65 on Monday. Is depressed by the recovery of the dollar and nearly 11 percent below the record high hit earlier this month.

AUSSIE Dollar skids

Tokyo's Nikkei average

rose 1.9 percent on three-month closing high. Using high-tech exporters gained after the tech-heavy Nasdaq hit 15-month high, fueled by brokerage upgrade of Intel Corp. said strong end-market "conditions.

Tokyo Electron Ltd, the world's No.2 producer of semiconductor equipment, climbed 3.8 percent and chipmaker tester ADVANTEST Corp. (ATE - news - people) confirmed 4.5 percent. Sony Corp (SNE - news - people) gained 2.7 percent.

Toshiba Corp (TOSBF.PK - news - people) rose by 4.7 percent, while the drachma chipmaker Elpida gets 4.6 percent.

High-tech also uses advanced on Monday after solid quarterly results, Oracle and BlackBerry makers Research In Motion (RIMM - news - people).

Taiwan's United Microelectronics Corp., the world's No. 2 contract chip maker, jumped 2.5 percent.

Index MSCI Asia Pacific stocks traded outside Japan rose nearly 1 percent, based on technological progress. Index staggering 60 percent this year.

Markets follow us home sales data and final reading of the U.S. 3rd quarter GDP due later Tuesday further information on Health largest economy in the world.

Chicago Fed President Charles Evans said Monday that he expects the U.S. economy to grow by 3-3.5 percent in the next 18 months.

U.S. Treasury yields hit a four-month high as markets speculated that the rapid recovery of the U.S. economy means that the U.S. rate of increase than in the euro area.

Rising yields in the U.S. food interest rate Australian dollar strong push into the 11-week low $ 0.8764.

Expectations of further mergers and acquisitions in the new year, increased part of Australia, grew by 1.5 percent.

The strength of the dollar also put pressure on oil, but held steady on Tuesday at $ 73.84 a barrel before the OPEC meeting in Angola, where it is expected that the cartel to leave output levels unchanged.

Prior to OPEC oil, DLR offsets strong U.S. data

* Dollar biggest hits in 2 mths vs yen

* OPEC ministers are expected to maintain supply curbs unchanged

* November the Chinese demand for oil up 18.7 pct year (Adds OPEC meeting, updates prices)

Judy Hua

Manila 22nd October (Reuters) - Oil edged on Tuesday before the meeting of OPEC, is strong against the dollar expected to fall in stocks of crude and pure in the United States with a long strong demand in China.

The U.S. currency rose to two-month high against the yen, as investors depend short dollar positions year-end numbers, but eased against a basket of currencies after approaching a high of more than three months on Monday. [CZK /]. DXY

Raw for the new front-month February contract CLc1 rose 27 cents to $ 73.99 a barrel by 0755 GMT. January contract expired on Monday the 89 cents to $ 72.47, under pressure from a stronger dollar.

London Brent crude for February LCOc1 rose 21 cents to $ 73.20.

"Trading volume is reduced, since the Christmas holidays and OPEC expected to keep its quotas unchanged, so no specific factors that may drive the market up and down," said Ken Hasegawa, commodity derivatives trading manager at broker Newedge in Tokyo .

"Money is the most important factor in the time to move on the oil market," he said, adding that prices are expected to range between $ 72 and $ 75.

U.S. oil inventories are expected to affect 1.6 million barrels last week as refiners pulled stocks at year-end tax issues, decline to be followed by a decrease of more than 3 million barrels in the last two weeks, Reuters survey found as the first . [EIA / S]

Clean supplies, including heating oil and diesel, should be down 2.1 million barrels last week, cold and snow bolsted heating oil demand in the U.S. Northeast, the largest country in the heating oil market, the poll showed an early release of the weekly American Petroleum Report Institute during the day.

Data from the government's Energy Information Agency (EIA) will be released Wednesday.

Cold Snap

"Cold weather is a supportive factor, but not enough that large long positions today. Inventory is still high," Hasegawa said, referring to 98 million barrels of distillates stored on board in late November according to the International Energy Agency.

Despite the expected decline in distillate stocks in the U.S. last week, fuel, supplies still above levels a year ago and more than 3 trillion cubic foot of natural gas in the store.

Colder-than-normal weather is expected in much of the United States, January-March, private forecaster WSI said in its latest winter outlook on Monday. [ID: nNYS007636]

Current El Niño event and the cold northern Pacific will contribute to the unusually heavy winterr to help improve gas and electricity demand to occupy large regions, particularly in February and March, the forecaster said.

Factbox for us winter weather season, click on [ID: nN21257897]

Prior to delivery, OPEC President Jose Botelho de Vasconcelos told Reuters that oil prices near $ 75 a barrel, it is desirable and there is no need to change OPEC output targets at its Tuesday meeting in Angola. [ID: nCOM002230]

Officials from the producer group OPEC said, looking likely to require better compliance with existing curbs, Secetary-General said that he would like obedience is more than 75 percent. [ID: nCOM002232]

China has increased exports to the market provided that much fuel to 71 percent in November from a year ago, while diesel increased 12-fold to 390,000 tons, refiners cranked up throughput to new heights, prompting delivery faster than the growth in consumption, which show that the use of company in recent months. [ID: nTOE5BL03L]

Apparent oil demand in the world, the second-largest energy consumer, rose by a record annual rate of 18.7 percent in November from a year earlier, although rapid growth is partly due to the low base last year, Reuters calculations based on official data showed.