March 25 (Reuters) - A look at the day ahead in Asian

markets.

Investors in Asia may favor playing it conservative ahead of

a slew of economic indicators in coming days, especially with

Japan's stock market notching consecutive record highs and

market closures on Friday for many centers, including China.

Japan's Nikkei 225 was hardly unique last week, extending its

rally on Thursday and Friday. While dovish central bank signals

emanated from the Federal Reserve, Swiss National Bank and Bank

of England, it was the Bank of Japan that kicked off the hectic

central bank news cycle by ending its long-held policy of yield

curve control and negative interest rate in a signal of

confidence in Japan's economic recovery.

But Wall Street and other exchanges paused on Friday to digest

their record runs and Japan could be due for its own moment of

consolidation in the coming days.

Japan does get revised January leading indicators on Monday

and services PPI data, while Tokyo CPI is due on Thursday.

Consumer price inflation data is also due from Malaysia and

Singapore on Monday.

YUAN'S SLIDE COULD FURTHER DISRUPT

Of more concern for the region's currencies is Friday's

sell-off in the China's yuan to a four-month low on the weaker

side of the 7.2 per dollar level. It ended the U.S. session at

7.2759 amid growing market expectations that Beijing

will have to deliver further monetary easing to shore up

economic growth. The yuan swoon hit China's stock market

and pressured the Philippine peso, Indian rupee,

Indonesian rupiah, Korean won and Thai baht

.

Meanwhile, Premier Li Qiang on Sunday said China will carefully

study issues of market access and cross-border data flows and

will soon issue new regulations in these areas.

"We cordially welcome companies from all countries to

invest in China and deepen their foothold in China," Li told an

audience of global CEOs and Chinese policymakers.

Profit taking on Friday capped the advances of stock indexes

on Wall Street and in Europe, a day after they notched all-time

highs. The S&P 500 closed 0.14% lower and the Nasdaq

rose a similar amount.

Switzerland's surprise rate cut on Thursday cemented the

notion that, BOJ aside, developed country central banks would be

easing interest rates soon.

That thinking obviously includes the Fed, which on Wednesday

left the fed funds rate alone at 5.25% to 5.50% but indicated it

was still prepared to lower rates by 75 basis points this year,

despite a worrying uptick in U.S. inflation and economic growth

solid enough perhaps to dodge a soft landing.

Many markets in Europe and in the U.S. will be closed on

Friday, for Good Friday. As it happens, since it's not a U.S.

pubic holiday, the most important data of the week, the February

personal consumption expenditures inflation index, lands when

markets are closed. But Asia will be the first markets to trade

on it the following Monday.

Meanwhile there is not as much incentive to buy during a

holiday-shortened week. China's stock exchanges are also closed

but Japan's are open.

Here are key developments that could provide more direction

to markets in the coming week:

- Malaysia CPI (Feb)

- Singapore CPI (Feb)

- Japan revised leading indicators (Jan)

- Japan services PPI (Feb)