SINGAPORE - Global shares got a lift in Asia on Monday on optimism that an end to the historic US government shutdown could be in sight, while the dollar was nursing losses from last week.

The US Senate on Sunday moved toward a vote on reopening the federal government, a day after Senate Majority Leader John Thune said bipartisan talks in the chamber to end the shutdown have taken a positive turn.

The developments helped push Nasdaq futures up 0.8 percent while S&P 500 futures rose 0.5 percent in early trade.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 percent and Japan's Nikkei rose 0.6 percent.

"The Senate appears close to a deal, but even if it passes, it still needs approval from the House of Representatives - where Democratic leaders have already signalled opposition," said Charu Chanana, chief investment strategist at Saxo.

"That means markets may see short-term relief, but headline-driven volatility is likely to continue until there's a clear resolution."

The shutdown has taken a toll on the US economy, with federal workers from airports to law enforcement and the military going unpaid while the central bank flies blind with limited government reporting.

White House economic adviser Kevin Hassett said in an interview that the nation's fourth-quarter GDP could be negative if the shutdown drags on. Data on Friday also showed that US consumer sentiment slumped to near a 3-1/2-year low in early November as households worried about the economic fallout.

"While a deal would be market-friendly by restoring confidence and liquidity, it doesn't undo the growth dent from what's now the longest shutdown in US history," said Chanana.

Still, overall risk sentiment remained upbeat on Monday.

EUROSTOXX 50 futures and DAX futures were up 1.3 percent each, while South Korea's Kospi advanced 2 percent.

US Treasury yields also edged higher, with the benchmark 10-year yield up 3.5 basis points to 4.1278 percent. The two-year yield rose roughly 3 bps to 3.5886 percent.

In currencies, the dollar recovered some of its losses from last week, as investors assessed the outlook for the US economy against a more hawkish Federal Reserve.

While recent data stoked fears of a weakening US labor market, a slew of Fed officials last week continued to maintain their preference for going slow on further rate cuts.

The dollar was last up 0.28 percent at 153.87 yen , while the euro was down 0.13 percent to $1.1551.

Sterling fell 0.17 percent to $1.3142.

In commodities, oil prices rose, with Brent crude futures up 0.4 percent to $63.89 per barrel, while US crude edged 0.45 percent higher to $60.01 a barrel.

Spot gold was up 0.6 percent to $4,023.40 an ounce.