* MSCI's Asia-Pacific shares index fall 0.02%. South Korean

stocks rebound 2.2%

* Analysts caution about renewed risk of volatility in

equities following Tuesday's selloff

* BOJ meeting summary showed some board members called for

further rate hikes

By Satoshi Sugiyama

TOKYO, June 24 (Reuters) - Asian stocks were wobbly on

Wednesday, a day after a global selloff in technology and

semiconductor shares, with analysts cautioning about the risk of

renewed volatility.

MSCI's broadest index of Asia-Pacific shares outside Japan

was down 0.02%. South Korean shares,

which plunged 10% on Tuesday in their sharpest one-day drop

since March, jumped 2.2%, while Japan's Nikkei was

swinging between gains and losses, last down 0.8%.

"Price action in markets over the last seven trading days

has been alarming, not just when it falls, but also when it

rises," said Michael McCarthy, market analyst at Moomoo

Securities Australia. "When markets move so rapidly, in either

direction, it's a sign of instability."

Risk-off sentiment swept Wall Street overnight, tracking moves

in Europe and Asia. U.S. stocks fell on concerns about rising

debt-funded AI spending and speculation that the Federal Reserve

could adopt a more hawkish stance, while Treasury yields

declined as investors sought the safety of government debt.

The Dow Jones Industrial Average lost 0.09%, the S&P

500 fell 1.4%, and the Nasdaq Composite fell

2.2%. The yield on benchmark U.S. 10-year notes fell

1.41 basis points to 4.493%.

Oil prices extended this week's losses, trading near

four-month lows hit in the previous session, on signs that more

oil tankers stranded in the Gulf since the start of the Iran war

are set to move out of the Strait of Hormuz.

Still, uncertainty remains over the durability of the accord.

The U.S. and Iran have provided conflicting accounts on what

the two countries had agreed on as part of their peace deal,

including key elements such as nuclear inspections and control

of the Strait of Hormuz.

The dollar's strength has weighed heavily on the Japanese

yen, which hovered near 40-year lows at 161.57 per

dollar, keeping markets on edge over a potential currency

intervention to prop up the battered currency.

A summary of opinions from the Bank of Japan's meeting this

month, in which the central bank decided to raise interest rates

to a 31-year high of 1.00%, released on Wednesday showed some

board members called for further interest rate hikes to push the

central bank's policy rate closer to levels deemed neutral to

the economy.

The dollar index, which measures the greenback against a

basket of currencies including the yen and the euro, rose 0.02%

to 101.43, holding near its one-year high. The euro was

down 0.06% at $1.1375. In Britain, the pound GBP=

weakened 0.08% to $1.3192.

Spot gold extended losses, down 0.48% to $4,088.71 an

ounce as higher rate expectations reduced the appeal of

non-yielding assets.

In cryptocurrencies, bitcoin gained 0.84% to

$62,914.94. Ethereum rose 0.43% to $1,669.35.

(Reporting by Satoshi Sugiyama; Editing by Lincoln Feast.)