* Samsung forecasts jump in April-June operating profit

* Yen trades on weaker side of 162 per dollar, intervention

eyed

* Seoul shares fall 4.1%, MSCI Asia-Pacific ex-Japan slip

0.73%

By Satoshi Sugiyama

TOKYO, July 7 (Reuters) - Asian stocks drifted lower on

Tuesday, even after South Korea's Samsung Electronics ( SSNLF )

forecast an eye-popping 19-fold jump in

second-quarter profit, while the Japanese yen remained pinned

near 40-year lows amid intervention speculation.

Samsung Electronics ( SSNLF ), the world's largest memory chipmaker,

estimated April-June operating profit at 89.4 trillion won

($58.44 billion), a third straight quarter of record operating

profit.

South Korean shares slumped 4.1%, while MSCI's

broadest index of Asia-Pacific shares outside Japan

slipped 0.73%. Japan's Nikkei shed

1.08%.

The sharp rally in AI-related shares has likely been driven

by concerns over the economy and inflation, with worries about

the outlook - including worsening tensions involving Iran -

prompting investors to seek refuge in the sector, said Toru

Suehiro, chief economist at Daiwa Securities.

"While it would be healthier for share prices to move in

line with the economy and the real economy, those conditions do

not change that rapidly," Suehiro said in a note, adding that

markets were therefore likely to remain range-bound.

All three major U.S. stock indexes ended higher on Wall

Street overnight, buoyed by hopes that artificial intelligence

will fuel a strong second-quarter earnings season. The Dow Jones

Industrial Average .DJI ended the day up 0.29%, while the S&P

500 .SPX jumped 0.72% and the Nasdaq Composite .IXIC climbed

1.12%.

South Korean chipmaker SK Hynix launched on

Monday a U.S. share sale to raise 43 trillion won ($28.07

billion) and drew indications of interest for up to $7 billion

from major investors. Broadcom announced it had

expanded its partnership with Apple to develop and

supply custom chips through 2031.

INTERVENTION ON THE HORIZON?

In currency markets, the yen languished near 40-year lows on

Tuesday as traders grew emboldened to push the currency lower

with no sign yet of intervention by Japanese authorities, though

the risk of a surprise yen-buying move by Tokyo kept losses in

check.

The yen struggled on the weaker side of 162 per

dollar in early Asia trade and weakened to nearly its lowest

against the British pound since 2007 at 217.09, having

slid to a new low overnight.

Japan is scheduled to hold an auction of 30-year government

bonds on Tuesday. If the auction is weak, government bond yields

could rise further and accelerate selling of the yen, said

Akihiko Yokoo, senior analyst at MUFG Bank.

The dollar index, which measures the greenback

against a basket of currencies including the yen and the euro,

rose 0.03% to 100.89, with the euro down 0.01% at

$1.1439.

Oil edged higher, but gains were limited as traders turned

their attention to supply increases and demand prospects after

prices hit pre-Iran war levels on Monday.

U.S. crude rose 0.54% to $68.92 a barrel and Brent

rose to $72.34 per barrel, up 0.49% on the day.

President Donald Trump said on Monday the United States

would either reach a deal with Iran or "finish the job,"

renewing his threat of military action as Tehran projects

defiance following the funeral of former Supreme Leader

Ayatollah Ali Khamenei.

Trump will attend a NATO meeting in Turkey this week, and

Fed watchers will get another glimpse into how new Chair Kevin

Warsh steers the central bank when it releases Federal Open

Market Committee minutes on Wednesday, the first of his tenure.

The yield on benchmark U.S. 10-year notes rose

0.42 basis point to 4.483%, from 4.479% late on Monday.

In commodity markets, gold lost 0.49% to $4,143.59 an

ounce. Silver fell almost 1% to $61.47 an ounce

and copper edged 0.21% lower to $13,375.00 a ton.