GLOBAL MARKETS-Asia stocks edge lower, oil above $145

* Asia stocks slip as stagflation weighs on sentiment

* Oil, soybean prices hit fresh record highs

* Nikkei tacks on 12th day of losses (Updates with close of Japanese markets, UBS on second-quarter results and European outlook)

By Kevin Plumberg

HONG KONG, July 4 (Reuters) - Asian stocks slipped on Friday as record high crude oil prices threatened to jeopardise earnings and curb consumer spending, while the uncertain economic outlook following U.S. jobs data boosted safe-haven government bonds.

This week has been punctuated by stagflation fears and deteriorating sentiment after the Dow Jones industrial average .DJI slipped into a bear market this week, down 20 percent from October highs, joining Asia markets and pushing investors into safety-first mode.

European equities are expected to open little changed, according to financial bookmakers, with few obvious drivers to motivate investors. UBS (UBSN.VX: Quote, Profile, Research) said it expects to post at worst a small loss in the second quarter, thanks largely to a 3 billion Swiss franc tax credit. [ID:nL04707314]

The unfavourable combination of feeble growth and high inflation known as stagflation has caused many analysts to cut their expectations for regional equity performance and investors to pull back on their willingness to take risks for higher returns.

"Asia is suffering from its own inflationary bout. That is the most important feature right now because it is forcing monetary policy to be tighter at a time when headwinds from the U.S. are increasing," said Sanjay Mathur, an economist with Royal Bank of Scotland in Singapore.