GLOBAL MARKETS-Stocks off 1-month high; euro dips on bank report

* Asia stocks ease on concerns over U.S. economy

* Indonesian stocks buck weakness, hit new record high

* Euro dips after WSJ report revives European bank fears

* Yen near 15-year high against dollar

By Kevin Yao

SINGAPORE, Sept 7 (Reuters) - Asian and European stocks eased on Tuesday as caution over the global economy persuaded investors took profits on recent gains, while the euro fell after a newspaper report rekindled fears about the vulnerability of European banks.

Concerns over the pace of global economic recovery lingered even after better-than-expected U.S. manufacturing and jobs data last week eased fears that the world's biggest economy might slide back into recession.

Leading European shares <.FTEU3> dipped 0.2 percent in early trade while S&P futures slid 0.3 percent, pointing to early weakness on Wall Street as U.S. markets reopen after the long Labor Day holiday weekend.

"The market still has some reservations about the global growth momentum. We cannot say the risk of a double-dip U.S. recession is over," said Daniel Chan, chief economist and wealth management strategist at BWC Capital Markets in Hong Kong.

The MSCI Asian stock index outside Japan <.MIAPJ0000PUS> shed 0.2 percent, but is still up nearly 5 percent this month as strong growth in the region partly offsets concerns about weakness in major developed economies.

Investors' appetite for riskier assets has revived somewhat after payroll data on Friday offered a ray of hope for the U.S. economy. Though employment fell for a third straight month, the drop was far less than expected and private hiring was a positive surprise, relieving concerns that its recovery was stalling.

Another report on Friday, however, showed growth in the dominant U.S. services sector hit a seven-month low, highlighting the sluggishness of the economy. [ID:nN02227856]

Japan's Nikkei average fell 0.8 percent on profit-taking after four straight days of large gains and as the yen's strength showed little sign of abating.

But the index managed to hold above its 25-day moving average, which had served as resistance for most of last month, a sign it could resume climbing once profit-taking is absorbed.

Some Southeast Asian markets bucked the general weakenss, with Indonesian stocks <.JKSE> hitting another record high as foreign investors continue to pump money into Southeast Asian assets, drawn by the region's robust economic growth and the prospects for further currency appreciation.

Investors are awaiting a flood of Chinese data as early as this week that is expected to show continued moderation in economic growth in August, another bumper trade surplus and an increase in inflation. [ID:nSGE685069]

EURO DIPS

The euro fell 0.6 percent to $1.2797 after a Wall Street Journal report stoked fears about the viability of European banks by highlighting the weakness of euro zone stress tests earlier in the year. [ID:nTOE685072]

The single currency was also pressured by comments from Germany's banking association on Monday that the country's 10 biggest banks may need 105 billion euros of additional capital under a revamp of banking rules designed to prevent future financial crises. [ID:nLDE6850Q9]

The euro hit a three-week peak the previous day.

"Concerns about euro zone banks have been growing again, hitting investor sentiment that had improved a little after better-than-expected U.S. jobs data last week," said Tsutomu Soma, senior manager of the foreign securities department at Okasan Securities.

The yen held largely steady against the dollar , remaining within sight of a 15-year high, as investors remain keen to buy safe-haven currencies, such as the Japanese currency and the Swiss franc.