* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* Shares stabilise but risks to global economy remain
* Treasury yield curve inversion gets deeper
* Policymakers being forced to support economic growth
By Stanley White
TOKYO, Aug 28 (Reuters) - Asian shares eked out meagre gains
on Wednesday, as higher Wall Street futures provided some relief
for investors after an overnight U.S. selloff, though deeper
worries about the global economy are likely to keep a lid on
sentiment.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was down 0.03%, Japan's Nikkei .N225 rose
0.04% and Australia's shares rose 0.07%.
The U.S. yield curve inversion deepened on Tuesday to levels
not seen since 2007, which sent Wall Street stocks lower. The
S&P 500 .SPX fell 0.33%.
Gold, which is bought as a safe haven during times of
economic uncertainty, traded close to a six-year high.
"Bonds are rallying and there is limited upside for stocks
right now," said Kiyoshi Ishigane, chief fund manager at
Mitsubishi UFJ Kokusai Asset Management Co in Tokyo.
"But I don't want to give up on equities just yet. The U.S.
Federal Reserve and officials in other countries simply have to
do more to stimulate their economies, which will eventually
prevent the bottom from falling out."
U.S. stock futures ESc1 were 0.14% higher, which helped
ease investors' nerves in Asian trading, but there were still
plenty of reasons to be concerned.
Investors will focus on how Chinese shares open after China
late on Tuesday unveiled measures to boost consumption.
A trade dispute between the United States and China is now
in its second year and is placing increasing strain on the
global economy, forcing policy makers to respond with interest
rate cuts and stimulus measures to bolster growth.
A bond yield curve inverts when long-term yields trade below
short-term yields and is commonly considered a signal of an
impending economic recession.
The yield on benchmark 10-year Treasuries US10YT=RR stood
at 1.4744%, compared with the two-year yield US2YT=RR of
1.5159%. The yield curve inversion is the deepest since May
2007, when the U.S. subprime financial crisis started to unfold.
Yields on 30-year Treasuries stood at 1.9554%, below 3-month
T-bill yields of 1.9951%, which some traders say is an even more
bearish signal.
Spot gold XAU= was unchanged in Asia at $1,542.25 per
ounce, but still close to a six-year high. GOL/
The dollar was little changed at 105.67 yen JPY=EBS after
falling 0.3% on Tuesday.
Investors are also focused on Sept. 1, when the first stage
of U.S. tariffs on $300 billion worth of Chinese goods is
scheduled to go into effect. In response, China has unveiled
tariffs on U.S. products set to go into effect the same day.
U.S. crude CLc1 ticked up 1.17% to $55.57 a barrel,
supported by expectations of a drawdown in U.S. crude
inventories.
(Editing by Sam Holmes)