GLOBAL MARKETS-European stocks dip, ignoring China rally, Aussie falls after RBA

* STOXX down 0.3% CSI300 up 0.7%% * China bond yields hit record lows * Korea rebounds * Australia c.bank strikes dovish tone (Updates after early European trading) By Tom Westbrook and Alun John SINGAPORE/LONDON, Dec 10 (Reuters) - European equities dipped on Tuesday, taking cues from tech-led declines on Wall Street rather than building on stimulus-fueled gains in China, while the Australian dollar slid as the central bank suggested rate cuts were finally approaching. The main scheduled events of the week are still to come, however, with U.S. inflation data due on Wednesday, and a meeting by the European Central Bank on Thursday. With an ECB rate cut all but certain, investors will be watching for clues about its policy path. Also top of mind for investors in emerging markets was Brazilian President Luiz Inacio Lula da Silva undergoing surgery in Sao Paulo to drain a bleed on his brain linked to a fall at home in October, according to a medical note published by the government. MSCI's world share index was down 0.15% .MIWD00000PUS with Europe's broad Stoxx 600 index off 0.3%, walking back some of its gains the previous day when news from China's Politburo drove hopes of more accommodative policy in the world's second-largest economy. .EU State media outlet Xinhua reported on Monday that top Communist Party officials had shifted the monetary policy stance from "prudent" to "moderately loose" ahead of the target-setting Central Economic Work conference this week, mirroring their response in previous crises Chinese bluechips, .CSI300 , which had closed before Monday's announcement, rose 0.7% on Tuesday as did stocks in Japan and Korea, the latter up 2.4% helped by authorities' vowing measures to stabilise markets in a bid to calm investors spooked by political turmoil. .KS .SS .T Though Hong Kong stocks, which had a chance to react to the news on Monday, dipped on Tuesday, and the runaway rally in Chinese bonds, which extended on Tuesday to drive 10-year CN10YT=RR and 30-year yields CN30YT=RR to record lows suggests some investors doubt the pledges are going to lift long-run growth in China. The Politburo meeting announcement, as it related to the policy stance, "adopted (the) strongest tone in decades," said Chen Shujin, head of China financial and property research at Jefferies. However, she added: "We still see the market repeating the pattern from the beginning of the year, driven by expectation on potential stimulus, and dragged by lower-than-expected policies." Overnight, the S&P 500 .SPX fell 0.6% and futures ESc1 dipped 0.07% in the European morning. .N A 2.5% drop for chip titan Nvidia NVDA.O , which edged a fraction lower still in after-hours trade following China opening an antitrust investigation, weighed on the mood. CENTRAL BANKS Elsewhere, the Reserve Bank of Australia, which has yet to join the global rate cutting cycle, left its cash rate unchanged at 4.35% as expected. However, the Australian dollar AUD=D3 fell 0.7% to $0.6394 as Governor Michele Bullock left the door open to a cut in interest rates as early as February. AUD/ "The currency must now count on soft U.S. CPI tomorrow for buyers to return," said Kenneth Broux, head of corporate research FX and rates at Societe Generale. That U.S. price data is the most important piece of global economic data this week. It is the last scheduled event that could possibly disrupt market expectations that the Federal Reserve will cut rates at its meeting next week. Core inflation is expected to hold at 3.3% for November, and an in-line reading should be no impediment to an easing. Traders are also expecting rate cuts in Europe and Canada later this week and are leaning towards a 50 basis point cut in Switzerland as authorities may like to tap the brakes on the franc's relentless rise against the euro EURCHF= . The euro EUR=EBS traded at $1.0529, down a touch, and 0.9264 francs. The Japanese yen JPY=EBS , which was the best-performing G10 currency in November as expectations have grown for a December rate hike in Japan, was a touch weaker at 151.45 per dollar. FRX/ Positioning data shows speculators flipped to a long yen position last week 1097741NNET for the first time in more than a month. Oil prices slipped on Tuesday as concerns eased about the potential regional fallout from Syrian President Bashar al-Assad's overthrow, but China news gave some support. Brent crude futures LCOc1 were flat at $72.11 a barrel. O/R Gold XAU= nudged up to $2,664 an ounce while bitcoin BTC= fetched $97,526. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates YTD http://tmsnrt.rs/2egbfVh Asian stock markets https://tmsnrt.rs/2zpUAr4 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Tom Westbrook in Singapore; Editing by Jamie Freed and Kim Coghill) (([email protected]; +65 6973 8284;))