Asian Shares Surge on Valuations, Dollar Weakens Amid US Political Turmoil

• Asian shares climbed to near a record, driven by strong earnings optimism and regional economic growth, outpacing the S&P 500.
• The MSCI Asia Pacific Index advanced 0.9%, with early gains seen in Japan after a holiday, and the yen strengthened.
• Asian equities are considered cheaper, trading at 15 times earnings compared to S&P 500's 22 times and Nasdaq 100's 25 times.
• US dollar declined and Treasuries sold off as the Trump administration's attacks on the Federal Reserve raised concerns about central-bank independence.
• Key risks for markets this week include US inflation data and a potential Supreme Court ruling on Trump's tariffs.

Why It Matters: Asian markets are gaining due to attractive valuations and regional growth, while US political tensions weaken the dollar.