* Spreadbetters see brighter openings for European bourses
* Dollar edges up vs EUR ahead of Thursday's ECB meeting
* India central bank surprises with rate cut
* Bank of Canada seen holding policy steady
By Lisa Twaronite
TOKYO, March 4 (Reuters) - Asian shares fell on Wednesday as investors grew cautious before upcoming central bank meetings and U.S. jobs data, while India's central bank surprised with its second inter-meeting rate cut this year.
MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.3 percent, while Japan's Nikkei stock average ended down 0.6 percent as investors locked in gains from its recent rise to 15-year highs.
Financial spreadbetters expected a brighter open for Europe, with Britain's FTSE 100 seen opening up 0.2 percent, Germany's DAX 0.2 percent higher, and France's CAC 40 up 0.3 percent.
Investors remained cautious ahead of U.S. nonfarm payrolls report for February, which could provide clues about the timing of the U.S. Federal Reserve's interest rate hike.
"Whether this selling is short-term profit-taking or can lead to a solid correction depends on how the market perceives the U.S. jobs data," said Isao Kubo, equity strategist at Nissay Asset Management in Tokyo. "If wages are better than expected and trigger worries about a sooner-than-later rate hike, there may be some more selling in stocks."
Economists polled by Reuters expect an increase of 240,000 new jobs in February, falling short of the 257,000 seen in January. Ahead of the jobs data, investors will focus on U.S. ISM services report to be released later on Wednesday.
On Wall Street overnight, U.S. stock indexes retreated from record highs hit earlier in the week.
Chinese shares rose after steep losses in the previous session, with the Shanghai Composite up 0.1 percent and the CSI300 index up 0.3 percent. The HSBC/Markit Services Purchasing Managers' Index (PMI) picked up to 52.0 last month from January's 51.8, showing that activity in China's services sector grew modestly as new orders rose at their quickest pace in three months.
In a surprise move, India's central bank cut its policy repo rate by 25 basis points to 7.5 percent on Wednesday, its second cut this year outside of its official policy meetings and comes on the back of easing inflation and a government commitment to fiscal discipline.
Indian bonds and rupee rose sharply after the cut. The BSE index was up 0.5 percent after earlier topping the 30,000 level for the first time, with some economists saying more easing could lie ahead.
"I feel another 25 bps is possible, maybe in the April policy but after that there will be a pause," said Rupa Rege Nitsure, group chief economist at L&T Financial Services.