SINGAPORE, March 28 (Reuters) - The yen languished near

its weakest in decades on Thursday though the threat of

intervention from Japanese authorities kept investors leery of

pushing the currency to a new low, while Asian stocks rose ahead

of a key U.S. inflation reading.

Markets were largely rangebound ahead of Friday's

much-anticipated U.S. core personal consumption expenditures

(PCE) price index data, the Federal Reserve's preferred measure

of inflation. Few markets will be open to digest the new

reading, however, given the long Easter weekend in many

countries.

Heightened focus was also on the yen, which was last little

changed at 151.30 per dollar, having slid to a 34-year

low of 151.975 in the previous session.

Japan's three main monetary authorities held an emergency

meeting on Wednesday to discuss the weak yen, and suggested they

were ready to intervene in the market to stop what they

described as disorderly and speculative moves in the currency.

That came after officials ramped up verbal warnings to stem

the yen's fall, with Finance Minister Shunichi Suzuki saying

"decisive steps" will be taken against excessive currency moves.

Japanese authorities last intervened to support the yen in

2022, when they also used phrases such as "deeply concerned" and

pledged to take "decisive steps" prior to intervention.

"Contrary to popular belief of 152 as the line in the sand,

I think it's more of the magnitude of the move that may matter,"

said Christopher Wong, a currency strategist at OCBC.

"There is also a limit to how far verbal intervention can

go. Nonetheless, the actual intervention risk is still high, if

not higher."

The sliding yen has been a boon for Japan's Nikkei,

which is up about 3% for the month thus far. It was last 1%

lower, but remained not far from a record high.

In China, stocks were in the red, pressured by strong

selling by foreign investors because of lingering concerns over

the outlook for the world's second-largest economy.

The blue-chip CSI300 index fell to a one-month low

in early trade, while the Shanghai Composite index

struggled below the psychologically key 3000-point mark and

dipped 0.1%.

The yuan, also weighed down by expectations of

further monetary easing from Beijing to shore up China's fragile

economic recovery, was little changed at 7.2270 per dollar,

languishing near a four-month low.

Hong Kong's Hang Seng Index barely budged, with a

more than 1% jump in technology companies offsetting

the drag from property names.

All that left MSCI's broadest index of Asia-Pacific shares

outside Japan 0.05% lower.

DOLLAR POWER

In currencies, the dollar was on the front foot, helped in

part by comments from Fed Governor Christopher Waller, who said

late on Wednesday there is no rush to ease interest rates.

While a more than 50% chance of a first Fed cut in June

continues to be priced in, traders are placing greater bets for

similar moves by the European Central Bank and the

Bank of England that month.

Sweden's central bank on Wednesday signalled there was a

good chance of a series of rate cuts starting in May if

inflation continued to drop towards its 2% target.

Against the greenback, the euro fell 0.1% to

$1.0816, and sterling eased 0.12% to $1.26255.

The New Zealand dollar fell to its weakest level in

four months at $0.5981.

"(The dollar) is still being swayed by the relative

hawkishness of the Fed, taking all 19 policymakers together, and

other central banks, who have tilted even more toward dovish in

their tone recently," said Thierry Wizman, global FX and rates

strategist at Macquarie.

The renewed dollar strength halted a blistering rally in

gold that sent it to a record peak last week. The yellow metal

eased 0.2% to $2,189.81 an ounce.

Oil prices meanwhile edged up, with Brent gaining 36

cents to $86.45 a barrel, while U.S. crude rose 44 cents

to $81.80 per barrel.