Nov 22 (Reuters) - A look at the day ahead in Asian

markets.

Risk assets in Asia are set to open positively on Friday after a

show of fortitude on Wall Street saw U.S. stocks end a choppy

session in the green, as local attention turns to the latest

inflation figures from Japan.

Japanese consumer prices top the regional calendar, and

investors also will be looking out for purchasing managers index

data from Japan, Australia and India for the first glimpse into

how these economies performed in November.

Annual core consumer price inflation in Japan is expected to

have slowed to 2.2% in October from 2.4% in September, cooling

for a second consecutive month on slower growth in energy

prices, according to a Reuters poll.

The release comes a day after Bank of Japan Governor Kazuo Ueda

said the central bank will "seriously" take into account the

yen's impact on growth and prices, remarks investors took as a

sign the BOJ could soon raise interest rates.

The ultra low-yielding yen is one of the world's

worst-performing currencies against the dollar this year,

putting upward pressure on the price of imports.

The dollar has risen 10% against the yen since the Fed cut

rates in September, a counter-intuitive move explained by the

surprising - and surprisingly steep - rise in U.S. bond yields.

But the yen is ripe for a rebound. It has been sold off heavily,

speculators are holding their biggest short position in four

months, and the BOJ could be taking a more hawkish turn.

The Japanese currency rose on Thursday for only the second

time in nine days, and another rise of around 0.3% on Friday

would seal its best week in two months.

Asian stocks are also consolidating, after getting slammed

last week. On the whole, the global backdrop as Asia opens on

Friday is still reasonably positive.

The upward momentum behind the so-called 'Trump trades' that

gathered steam before and immediately after the Nov. 5 U.S.

presidential election has fizzled, but most of these bets still

appear to be in play. Some more than others.

Tesla shares are up 7% this week and bitcoin is up 9%, within

reach of breaking above $100,000 for the first time.

This could easily happen in Asia on Friday, after U.S.

Securities and Exchange Commission Chair Gary Gensler confirmed

he will leave his post in January. Gensler is widely seen as a

hard-liner on cryptocurrency regulation.

Indian assets, meanwhile, are under heavy pressure on the news

that Indian billionaire Gautam Adani has been indicted for fraud

by U.S. prosecutors and arrest warrants issued for him for his

alleged role in a $265 million scheme to bribe Indian officials.

Stocks are the lowest in five months, and the rupee has

never been weaker.

Here are key developments that could provide more direction

to markets on Friday:

- Japan inflation (October)

- Malaysia inflation (October)

- Japan, Australia, India PMIs (November)