* Futures portend subdued openings for European bourses
* Nikkei reverses early losses, reopening after Monday holiday
* Korea rallies after more than week-long holiday
* Crude oil futures inch slightly higher
By Lisa Twaronite
TOKYO, Oct 10 (Reuters) - Asian shares rose on Tuesday, shrugging off modest losses on Wall Street, while expectations of another U.S. interest rate increase this year continued to underpin the dollar.
Futures suggested a more subdued start to the European trading day, with the Eurostoxx 50 and Germany's Dax futures both down 0.1 percent. France's Cac futures and FTSE futures were both slightly lower.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6 percent.
Japan's Nikkei stock index reversed early losses and finished 0.6 percent higher, as markets reopened after a public holiday on Monday.
China stocks retreated from the previous session's 21-month highs as investors took profits on recent gainers and awaited third-quarter economic data and earnings reports. The bluechip CSI300 index fell 0.3 percent while the Shanghai Composite Index was down 0.1 percent.
China's Statistics Bureau on Tuesday said that the country will have no problem meeting its economic growth target of around 6.5 percent this year, and may even beat it. Such an outcome had been widely expected after a robust start to the year.
Offshore Chinese yuan surged to its strongest levels in more than two-weeks, after the central bank set a firmer-than-expected official fix on Tuesday. The move suggests that the authorities are trying to stabilise the currency ahead of next week's key national leadership meeting.
Korean shares rallied 1.6 percent on their first day of trading this month, as tech shares led by Samsung Electronics Co Ltd caught up with gains made by global stock markets after a long break.
Seoul markets were closed last week and on Monday for public holidays.
"Global stock markets marked strong gains while Seoul markets were off, and the price of semiconductors continued to rally," said Lee Seung-woo, a stock analyst at Eugene Investment & Securities.
Tensions on the Korean peninsula continued. Russian Foreign Minister Sergei Lavrov told U.S. Secretary of State Rex Tillerson in a phone call on Monday that an escalation was unacceptable.
Russia and China both called for restraint on North Korea on Monday after U.S. President Donald Trump warned over the weekend that "only one thing will work" in dealing with Pyongyang, hinting that military action was on his mind.
Investors were particularly wary on Tuesday, when Pyongyang celebrated the founding of its ruling party, which loomed over other market factors.