* China to unveil 10-year reform plan on Tues
* Indonesian central bank seen holding rate unchanged
* Dollar steady vs euro after overnight weakness
By Dominic Lau
TOKYO, Nov 12 Asian shares held steady on
Tuesday, with investors turning their attention to the Chinese
Communist Party policy-meeting for clues to China's economic
agenda for the next decade, while the dollar's two-day rally
against the euro came to a halt.
MSCI's broadest index of Asia-Pacific shares outside Japan
inched up 0.1 percent after a three-day run of
losses, while Australian shares gained 0.3 percent.
Overnight, U.S. stocks edged up, lifting the Dow Jones
industrial average to another record closing high in
light volume on Veterans Day. U.S. S&P 500 E-mini futures
were flat in early Asian trade.
All eyes will be on the unveiling of China's economic
blueprint for the next decade later on Tuesday as Beijing seeks
to balance the need to overhaul the world's second-largest
economy while it tries to preserve stability and to reinforce
the Communist Party's power.
"In terms of the effect on the market, some people actually
believe it might be slightly negative and the reason for that is
that ... you have a situation where the current investment in
Chinese infrastructure slows down as these laws are changed,"
said Evan Lucas, market strategist at IG in Melbourne.
But on a medium-term view, changes to the Chinese economy
would boost growth in the region, he said.
The dollar was steady at 99.18 yen, while the euro
was little changed at $1.34045 after bouncing 0.3 percent
on Monday, ending a two-day streak of losses that saw the single
currency briefly touch an eight-week low last Thursday on the
back of a surprise rate cut by the European Central Bank.
The outlook for the dollar remained upbeat with expectations
that the U.S. Federal Reserve might reduce its massive stimulus
sooner than thought after a strong October jobs print.
Emerging currencies look set to remain on the defensive,
however, on concerns about capital outflow, if the Fed removes
its cheap money policy.
Indonesia's central bank is likely on Tuesday to keep its
benchmark reference rate on hold at its monthly meeting, as
inflation has stabilised and the current-account deficit is
expected to narrow, relieving pressure on the ailing rupiah,
which lost 1.3 percent to a one-month low of 11,555 per dollar
Tokyo's Nikkei futures rose 0.3 percent, signalling a firmer
open for the Nikkei share average after the benchmark
rallied 1.3 percent from a three-week low on Monday.
U.S. crude prices slipped 0.2 percent to just below
$94.7 a barrel, giving up some of the 0.4 percent rise on Monday
after Iran and six world powers failed to reach a deal on
Tehran's nuclear programme and after Chinese data pointed to a
rise in fuel demand.
Gold dipped 0.1 percent to below $1,282 an ounce,
hovering near a three-week low touched overnight.