World number one Roger Federer said more major events should be played in Asia rather than the traditional tennis strongholds of Europe and the US.

Etienne De Villiers, the chairman of the Association of Tennis Players (ATP), said last October that the showpiece Masters Cup event should move from its Shanghai venue to Europe when its contract expires after 2008.

De Villiers said the tournament should be played where most tennis fans are based, and suggested London as his preferred venue.

But Swiss maestro Federer said the game should do more to exploit the burgeoning popularity of the sport across Asia and would like to see major events switched there should the season-ending championships move.

"I'm more for moving tournaments to Asia (rather) than Europe or the United States," Federer told reporters at the Australian Open on Wednesday.

"I think Asia is a very important market, I've always loved playing over there, I don't really care where it goes in Asia but I think it's really important to have big events there."

Shanghai has hosted the Masters Cup three times --- in 2002, 2005 and 2006 -- and although each has been a huge success there has been criticism the event is staged such a distance away at the conclusion of the European and U.S. seasons. Its contract is due to run out after the 2008 tournament.

De Villiers did say when he made his pronouncement that a Masters Series event would likely replace the Masters Cup when it was moved from Shanghai, and Federer backed the notion.

"We have the Australian Open but that's all the way down here. We need something in Asia as well," said Federer, who has won the Masters Cup three times.

"When this (Masters Cup) goes, it's good to maybe have a Masters Series over there."