Stocks made modest gains on Thursday on cautious optimism that U.S. data will confirm inflation is softening, while the yen rose on expectations the Bank of Japan will review the side effects of its ultra-easy policy. A MSCI gauge of world stocks rose 0.4% to a four-week high by 1111 GMT ahead of data expected to show U.S. headline consumer inflation slow 6.5% in December from 7.1% the previous month, with core inflation, seen at annual 5.7%, down from 6% a month earlier. Month-on-month headline inflation is seen at zero.
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