Oct 30 (Reuters) - A look at the day ahead in Asian

markets.

Markets in Asia appear to lack clear direction at the open on

Wednesday, with investors still digesting the news of a

potential 10 trillion yuan fiscal boost from China, while

weighing the impact of a firm U.S. dollar and buoyant Treasury

yields.

Political paralysis in Japan following Sunday's inconclusive

general election still hangs over markets there, although stocks

could benefit from the weak yen and view that political gridlock

clips the wings of the Bank of Japan's more hawkish officials.

The main events in the Asia and Pacific region's economic

calendar on Wednesday include Australian inflation and a

monetary policy forum held by the Bank of Thailand, while the

BOJ begins its two-day policy meeting.

The flow of Asian company earnings picks up pace, with

Mitsubishi and Hitachi in Japan, and China's BYD, Standard

Chartered and ICBC among the big names reporting on Wednesday.

If there is a catalyst for early Asian trading on Wednesday

it could come from U.S. corporate news on Tuesday, namely

Alphabet's third-quarter results after the closing bell, which

sent its shares up as much as 5% in after-hours trade.

The Nasdaq hit a record high on Tuesday, and megacaps Meta

Platforms, Microsoft, Apple and Amazon report later this week

too.

Investors in Asia will still be weighing up the exclusive

Reuters report on Tuesday that China is considering approving

the issuance of over 10 trillion yuan ($1.4 trillion) in extra

debt in the coming years to revive its fragile economy, a fiscal

package that would be further bolstered if Donald Trump wins the

U.S. election.

The news failed to prevent Chinese stocks from falling 1% on

Tuesday, however, as weakness in the energy and property sectors

dragged the market lower.

Perhaps the yuan's latest slip to a two-month low could put

a temporary floor under stocks. Many analysts believe China

needs a weaker exchange rate to boost exports and growth, and

steer the economy away from the clutches of deflation. But

policymakers must balance that against the possibility that the

weaker currency triggers waves of capital flight out of China.

However, any positive sentiment may be tempered by another

rise in U.S. bond yields and the dollar. The 10-year Treasury

yield rose above 4.30% for the first time since July, while the

dollar climbed to a three-month high on an index basis.

The dollar is on course for its biggest monthly rise in two

and a half years, and second biggest in over a decade. Many

investors will be feeling the pain - a month ago hedge funds'

short dollar position was worth $14.5 billion, according to U.S.

futures market data, and that has now been flipped to a net long

position worth almost $10 billion.

Here are key developments that could provide more direction

to markets on Wednesday:

- Australia inflation (September, Q3)

- Bank of Thailand monetary policy forum

- Japan, China corporate earnings