* Ex-Japan Asia MSCI down 0.3 pct, Nikkei snaps 9-day uptrend

* Dollar off 14-year high but seen supported on Trumponomics

* Yuan off 8 1/2-year low vs dollar

* European shares seen opening 0.1 pct higher

By Hideyuki Sano

TOKYO, Dec 19 (Reuters) - Asian shares slipped to four-week lows on Monday as the prospect of higher U.S. interest rates and a strong dollar stemming from the incoming Trump Administration's purported policies of cutting taxes and spending heavily threatened to suck capital out of emerging markets.

European shares are seen having better luck, following recent gains in shares of banks, resource companies and some automakers.

Spread-betters see a rise of about 0.1 percent in the main indexes including Britain's FTSE, Germany's DAX and France's CAC.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.3 percent to a four-week low. It has lost 3.7 percent since Trump was elected.

Leading the losses, Hong Kong shares hit a four-month low as the Hong Kong dollar soared in line with the U.S. dollar to which it is pegged, and after insurance shares were hit by a Chinese regulator's warnings..

In addition, investors turned cautious after China's top leaders vowed over the weekend to stem asset bubbles in 2017 and place greater importance on the prevention of financial risk

Japan's Nikkei, which has benefited from the yen's sharp fall against the dollar, snapped its nine-day winning streak, dipping 0.1 percent from Friday's one-year high.

"I think the markets' trend will continue. Share prices will edge higher and so will bond yields. The dollar will remain strong. One key question is whether the Dow Jones will hit the 20,000 mark," said Koichi Yoshikawa, executive director of financial markets at Standard Chartered Bank in Tokyo.

The Dow Jones industrial average ended down 0.04 percent to 19,843.41 on Friday, while the S&P 500 lost 0.18 percent to 2,258.07.

Financial markets briefly turned "risk-off" in late U.S. trade on Friday following news that a Chinese Navy warship had seized a U.S. underwater drone in international waters in the South China Sea.

The diplomatic incident appears to have been resolved for now after the two countries said on Saturday that China will return the drone.

Still, doubts on the future of Sino-U.S. relations with Trump in the White House could eventually cast a shadow on financial markets, some market players say.

Trump has previously threatened to declare China a currency manipulator and force changes in U.S.-Chinese trade policy, which he described as leading to the theft of American jobs.