*

Central banks including ECB, BOJ, BOE, Riksbank and Norges

Bank

due to meet

*

Delayed US data including jobs and inflation to resume

*

China Vanke bondholder vote renews concerns around

property

sector

By Lawrence White

LONDON, Dec 15 (Reuters) -

European shares moved higher on Monday as Wall Street

futures pointed to a recovery from last week's sell-off, but

investor caution capped gains at the start of a week loaded with

big central bank decisions and economic data.

Europe's benchmark STOXX index of 600 large companies

gained 0.6%. S&P 500 e-mini futures rebounded

0.4%, after U.S. stocks had slumped on Friday over concerns

about a bubble in Artificial Intelligence shares and lingering

inflation in the world's biggest economy.

Asia shares were less buoyant thanks to renewed worries in

China's property market. MSCI's broadest index of Asia-Pacific

shares outside Japan shed 1.2%, led by a drop of

as much as 2.7% in South Korean shares, one of the

world's best-performing markets this year.

"The risk-off tone across Asia looks more like a spillover

from last Friday's selloff in U.S. momentum and tech than a

region-specific catalyst," said Marc Velan, head of investments

at Lucerne Asset Management in Singapore.

"The unwind in the AI-capex trade weighed on global risk

appetite, and in thin year-end liquidity those moves tend to

travel quickly across regions."

The yield on the U.S. 10-year Treasury bond was last down 3

basis points at 4.1645% as investors awaited a string of

economic data releases and a slew of decisions from central

banks.

CHINA PROPERTY WOES

Against the Chinese yuan trading offshore, the U.S.

dollar slipped 0.1% to 7.0486 yuan, hovering around its

strongest level in more than a year, after factory output and

retail sales data slowed further in November.

Official data showed on Monday that new home prices extended

a decline in November, indicating that a recovery in demand

remains elusive despite the government vowing to stabilise the

sector.

China Vanke said it would convene a second

bondholder meeting, after the state-backed property developer

failed to secure bondholder approval to extend by one year a

bond payment falling due Monday, increasing the risk of default

and renewing concerns about the crisis-hit property sector.

"If Vanke ultimately defaults, we think the ramifications on

the China property sector can be significant," said Jeff Zhang,

equity analyst at Morningstar. "Investors may be more concerned

about the balance sheet and government's attitude towards

bailout for even the 'safe names'."

CENTRAL BANK DECISIONS LOOM

Among the central banks making decisions this week, the Bank

of Japan is expected to hike rates by 25 basis points to 0.75%,

while the Bank of England may make an equal-sized cut to 3.75%.

The European Central Bank is expected to keep interest rates

on hold, alongside Sweden's Riksbank and Norway's Norges Bank.

Investors will also have the chance to catch up on economic

data that was delayed by the U.S. government shutdown, including

the jobs report for November and the monthly consumer price

index.

"It's worth taking this week's data with a pinch of salt

given problems collecting data as well as the direct economic

impact of the government shutdown," said Ben Bennett, head of

investment strategy Asia at L&G Asset Management in Hong Kong.

"We'll have to wait until 2026 to get a clearer reading on

the U.S. economy."

In Japan, stocks gained some support after the BOJ's closely

watched "tankan" survey showed on Monday that big manufacturers'

business sentiment hit a four-year high, suggesting the economy

was weathering the hit from higher U.S. tariffs.

The Topix was last up 0.2%, while the yen

appreciated 0.6% to 154.955 against the U.S. dollar, nearing its

strongest level in a week.

The kiwi dollar slid 0.4% to $0.5781 after comments from New

Zealand's new central bank governor Anna Breman warning

financial market conditions had tightened in recent weeks,

leading investors to pare back rate hike expectations for next

year.

In commodities, Brent crude was 0.5% higher at

$61.44 as supply fears from U.S.-Venezuela tensions and

elsewhere lifted prices.

Imperial Oil ( IMO ) said on Sunday it had issued a fire

alert at its 120,000 barrel-per-day refinery facility in

Ontario, Canada. Meanwhile, Russia said that an oil refinery in

Afipsky was undamaged by a Ukrainian drone attack.

On the geopolitical front, U.S. envoy Steve Witkoff said "a

lot of progress was made" in peace talks to end the Ukraine war

in Berlin on Sunday.

Gold extended its recent rally into a fifth day as it

approaches a record high of $4,381.21. Spot bullion prices were

last up 1.1% at $4,348.83.

Cryptocurrency markets snapped a three-day losing streak,

with bitcoin last up 1.5% at $89,845 and ether

rising 2% to $3,145.