BANGKOK — Asian stock markets displayed mixed results on Thursday following a tepid conclusion on Wall Street, spurred by a recent report indicating a rise in inflation in the U.S. during the previous month.

The dollar traded at 156 Japanese yen, a slight increase from 155.49 yen, reflecting increasing optimism regarding the dollar’s potential rise against other foreign currencies due to expected policies from President-elect Donald Trump’s administration.

In Japan, the Nikkei 225 index experienced a minor increase of less than 0.1%, settling at 38,754.50. Meanwhile, South Korea’s Kospi rose by 0.5% to reach 2,429.23, and Australia’s S&P/ASX 200 climbed by 0.4% to 8,223.20.

Contrastingly, Chinese markets faced setbacks, with Hong Kong’s Hang Seng index declining by 0.9% to 19,649.91 and the Shanghai Composite index down by 0.3% to 3,428.37. The SET index in Bangkok fell 0.2%, while Taiwan’s Taiex dropped by 0.5%. On a brighter note, India’s Sensex saw a slight increase of 0.1%.

Stephen Innes from Capital Economics noted that a stronger dollar can exert pressure on other economies. He indicated that both the Thai baht and the Chinese yuan (renminbi) have weakened against the dollar since the U.S. election. The yuan now trades at approximately 7.2245 per dollar, having been around 7 yuan per dollar in early October.

Innes commented on the potential ramifications for Asia, particularly for economies closely connected to China, stating that the dollar’s strength could act as an economic disruptor. He mentioned that countries with significant USD-denominated debt are preparing for the resulting impacts.

In the U.S., stocks closed in mixed fashion on Wednesday, with the latest inflation figures raising hopes for a potential cut in interest rates next month, which might provide additional support to the economy. The S&P 500 ended nearly unchanged, adding 1.39 points to reach 5,985.38, marking its first dip after a significant rally following the Nov. 5 elections. The Dow Jones Industrial Average increased by 0.1% to 43,958.19, while the Nasdaq composite fell by 0.3% to 19,230.74.

Consumer inflation in the U.S. picked up in October, rising to 2.6% from 2.4%. However, the core inflation measure, often viewed as a more reliable predictor of future trends, remained stable. This contributed to expectations for further intervention from the Federal Reserve. Following its decision to lower interest rates from a two-decade high in September to stabilize the job market and combat inflation, the Fed cut rates again earlier this month. Market participants now foresee an approximately 80% chance of another cut in next month’s meeting, according to CME Group data.

Additionally, the expectations influenced a drop in the yield for two-year Treasuries to 4.27% from 4.34% late Tuesday. Conversely, the yield on a 10-year Treasury, which accounts for future economic growth, rose to 4.45%, up from 4.43% late Tuesday.

However, the uncertainty surrounding Trump’s presidency brings questions regarding the Fed’s future direction. Economists suggest that Trump’s inclination towards lower taxes, increased tariffs, and reduced regulations could lead to greater government debt and inflation, but might also stimulate faster economic growth.

While lowering interest rates could enhance economic activity and investment prices, they could also trigger inflation.

In the stock market, Rivian Automotive saw an impressive gain of 13.7% following news about a collaborative project with Volkswagen Group. This joint venture could potentially be valued at up to $5.8 billion, surpassing earlier estimates of $5 billion.

Conversely, Spirit Airlines’ stock plummeted by 59.3% after the company disclosed its attempts to renegotiate its debt repayment, which could jeopardize shareholder interests while safeguarding employees and customers.

In the cryptocurrency sector, Bitcoin was trading around $90,300 after reaching above $93,000, benefiting from a general surge in crypto prices. Trump has shown support for cryptocurrencies, vowing to establish the U.S. as a leading hub for the sector.

Dogecoin, a cryptocurrency favored by Tesla’s Elon Musk, also retraced some gains earlier in the day. Musk has been named as one of the leaders of a “Department of Government Efficiency,” humorously nicknamed DOGE.

In early trading on Thursday, U.S. benchmark crude oil declined by 37 cents to $68.06 per barrel on the New York Mercantile Exchange, while Brent crude, the global standard, decreased by 29 cents to $71.99 per barrel. Additionally, the euro fell to $1.0548 from $1.0587.