ASIA OUTLOOK: Regional equities are likely to be little-changed in thin trade with most major markets across the globe shut for the Christmas holidays, and as European stocks ended steady ahead of the festive season, despite the U.S. fiscal impasse and concerns over Italy's political landscape after Prime Minister Mario Monti resigned last week. Any trading cues will likely come from markets still open such as Japan and China. Australia, Hong Kong, India, Indonesia, Malaysia, New Zealand, Philippine, Singapore and South Korea markets are shut for holidays. In FX markets, the Japanese yen could continue to tick lower versus the U.S. dollar after hitting its lowest point in 20 months amid continued expectations that incoming prime minister Shinzo Abe will take action to weaken the local currency. The USD/JPY is at 84.84 from 84.95 early Tuesday in Asia, the EUR/JPY is at 111.87 from 111.97, and the EUR/USD is at 1.3180 from 1.3185. On the data front, there's Japan's November corporate service price index at 2350 GMT, Japan's October revised machine tool orders at 0600 GMT, Taiwan's November money supply at 0820 GMT, and Thailand's November trade data.
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