Asian stocks tread water on U.S. cues, Europe concerns

Asian stocks looked set to consolidate around four-month highs on Thursday as a cautious Wall Street close and growing political risks in Europe force investors to the sidelines. MSCI's broadest index of Asia-Pacific shares outside Japan was broadly flat, with early Asian markets such as Australia hemmed in tight ranges. Political concerns, including a strong showing by far-right candidate Marine Le Pen in France's presidential race, have pushed up premiums demanded by investors to buy French de