Bullish indicating open at $55-$60, IPO prices at $37
* MSCI Asia-Pacific index up 0.1%, Nikkei gains 0.5%
* Stocks up amid U.S., China and euro zone stimulus hopes
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
By Shinichi Saoshiro
TOKYO, Sept 9 (Reuters) - Asian stocks eked out modest gains
on Monday, amid a cautious market mood as investors pinned
expectations on likely stimulus to support growth in the world's
major economies, which showed further signs of struggle.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS added 0.1%.
Australian stocks .AXJO edged up 0.1%, South Korea's KOSPI
.KS11 rose 0.8% and Japan's Nikkei .N225 was up 0.5%.
The Dow .DJI rose 0.25% and the S&P 500 .SPX edged up
0.1% on Friday.
Global equity markets received a lift after China's central
bank said on Friday it was cutting the amount of cash that banks
must hold as reserves, releasing liquidity to shore up a slowing
economy dogged by the Sino-U.S. trade conflict. Risk sentiment was also fortified as Fed Chairman Jerome
Powell said Friday that the central bank will continue to act
"as appropriate" to sustain the economic expansion in the
world's biggest economy. Broader stock market gains were tempered in the wake of
lacklustre economic data - U.S. job growth slowed more than
expected in August - although even this was seen as a positive
factor for equities. "Equities usually respond negatively to soft data. But the
fact that the U.S. jobs report shows the market is banking on
stimulus, expecting the Fed to respond to economic weakness with
rate cuts," said Masahiro Ichikawa, senior strategist at
Sumitomo Mitsui DS Asset Management.
Buoying market confidence on Monday were expectations the
European Central Bank would cut interest rates on Thursday in
one of the week's key events.
"The equity markets will receive a further lift and
consolidate their recent gains if they can confirm the ECB's
dovish stance," Ichikawa at Sumitomo Mitsui DS Asset Management
said.
The dollar was capped as U.S. yields came off two-week highs
after Friday's soft U.S. jobs report heightened expectations for
a Fed rate cut.
The greenback traded at 106.975 yen JPY= , off the
one-month peak of 107.235 scaled late last week.
The euro was steady at $1.1022 EUR= , weighed down ahead of
Thursday's ECB policy decision and in distance of a 28-month low
of $1.0926 set last week.
The Australian dollar AUD=D4 , sensitive to shifts in
broader risk appetite, hovered near a five-week peak of $0.6862
set on Friday.
The 10-year U.S. Treasury yield US10YT=RR was at 1.5585%
after bouncing to 1.6080 on Friday, its highest since Aug. 23.
Brent crude oil futures LCOc1 gained 0.5% to $61.85 per
barrel. The contract had risen 1% on Friday after the Fed said
it would act to sustain U.S. economic growth and was on track to
gain for the fourth day.
(Editing by Sam Holmes)