BANGKOK — On Thursday, Asian stock markets showed mixed results as declines in technology shares impacted Wall Street’s performance earlier in the week.

Tokyo’s Nikkei 225 index saw an increase of 0.7%, reaching 38,400.00, while Australia’s S&P/ASX 200 climbed 0.8% to 8,473.30.

In South Korea, the Kospi index remained steady at 2,503.01 after the Bank of Korea lowered its benchmark interest rate to alleviate economic pressures.

The central bank’s adjustment was a quarter-point reduction to 3%, along with a revised growth forecast for the economy, now expecting a 2.2% expansion instead of 2.4% this year, and 1.9% instead of 2.1% for 2025.

Chinese markets experienced declines as investors decided to lock in profits from recent gains.

The Hang Seng index in Hong Kong dropped by 1.3% to 19,344.07, while the Shanghai Composite index decreased by 0.3% to 3,299.87.

As U.S. markets closed on Thursday for Thanksgiving, they will reopen for a short trading session on Friday.

On the previous day, the S&P 500 fell 0.4% to 5,998.74, breaking its seven-day upward streak despite more stocks registering gains than losses within the index.
The Dow Jones Industrial Average also experienced a 0.3% decline, marking its first setback after five consecutive increases, settling at 44,722.06. Both the Dow and the S&P 500 remain close to the record highs set earlier.

The Nasdaq composite, notable for its tech stock concentration, fell 0.6% to 19,060.48.

The market faced pressures from significant technology firms like Nvidia, Microsoft, and Broadcom. Nvidia saw a 1.2% drop, a move that is impactful due to its substantial market value. Microsoft also decreased by 1.2%, and Broadcom saw a larger decline of 3.1%.
Additionally, several personal computer manufacturers contributed to the market’s downfall on the back of disappointing earnings reports.

HP’s share price plunged 11.4% after it issued a weaker-than-expected forecast for earnings in the current quarter. Dell’s stock fell by 12.2% following revenue figures that failed to meet Wall Street’s expectations.
Despite these losses, gains among financial and healthcare companies helped to mitigate the overall dip. Berkshire Hathaway saw an uptick of 0.9%, while Merck & Co. gained 1.5%.
The Commerce Department confirmed that the U.S. economy grew at an annual rate of 2.8% from July to September, as initially estimated. This growth was primarily driven by robust consumer spending and a significant increase in exports.

Current consumer behavior is contributing to economic expansion, but recent earnings reports from retailers depict a more cautious landscape.
For instance, Nordstrom’s stock fell by 8.1% after the company alerted investors about declining sales trends observed since late October. In contrast, Urban Outfitters surged by 18.3% after surpassing analysts’ financial projections for the third quarter.
Consumers are experiencing the impact of rising prices, with the government’s personal consumption expenditures (PCE) index climbing to 2.3% in October, up from 2.1% in September.
Overall inflation has shown a decline since its peak over two years ago. The PCE, viewed by the Federal Reserve as a key inflation gauge, was just below 7.3% in June of 2022, with the consumer price index hitting a peak of 9.1% at the same time.
Recent data indicates that the reduction in inflation may be stalling as it approaches the Fed’s 2% target. The central bank started increasing its benchmark interest rate from near-zero levels in early 2022 to a two-decade high in mid-2023. It held this rate until beginning cuts in September, which continued into November.
Wall Street anticipates another quarter-point cut in interest rates during the Fed’s upcoming December meeting. However, President-elect Donald Trump has indicated plans to impose significant new tariffs on Mexico, Canada, and China upon taking office in January, which could drive up product prices and affect inflation, potentially leading the Fed to reconsider future interest rate reductions.
In other early trading news, U.S. crude oil benchmark prices saw a decline of 15 cents, settling at $68.57 per barrel, while Brent crude also dropped by 15 cents to $72.15 per barrel.
The dollar gained value against the Japanese yen, rising to 151.56 from 151.12, while the euro decreased slightly to $1.0555 from $1.0567.