HONG KONG — On Friday, Asian stock markets displayed mixed results as U.S. markets were closed the previous day in observance of the Thanksgiving holiday. Futures for U.S. indices and oil prices experienced an upward trend.

In Japan, the Nikkei 225 index dropped 0.4%, closing at 38,183.31. This decline followed the release of inflation data from Tokyo, which indicated an increase to 2.6% in November, significantly up from 1.8% in October. The rise in inflation was primarily attributed to escalating prices in fresh food. When excluding fresh food, core inflation rose to 2.2% on a year-over-year basis, up from 1.8% the previous month.

The uptick in inflation has led to speculation that the Bank of Japan may continue its trajectory of increasing the benchmark lending rate. This potential move tends to bolster the value of the Japanese yen, which was valued at 149.92 to the U.S. dollar early on Friday, a notable improvement from being above 155 yen to the dollar just a week prior. Currently, the Bank of Japan maintains a policy rate of 0.25%, having moved away from a prolonged period of negative rates in March, when it seemed that the inflation target of 2% had largely been met.

Meanwhile, South Korea’s Kospi composite index fell by 1.3%, settling at 2,471.68, as the central bank cut its benchmark interest rate on Thursday in a bid to support its faltering economic growth. Australia’s S&P/ASX 200 index also saw a slight decline, decreasing 0.2% to 8,428.20.

Conversely, markets in China showed positive momentum. The Hang Seng index in Hong Kong rose by 1.3%, reaching 19,616.44, while the Shanghai Composite index surged by 1.6% to 3,348.20. Investors are keenly awaiting an important economic planning meeting typically held in December.

In the U.S., the markets are set to reopen for a half-day trading session on Friday. The holiday on Thursday provided a brief pause in discussions surrounding President-elect Donald Trump’s plans following his inauguration, particularly after the previous week’s market volatility spurred by his announcement of proposed significant tariff increases on imports from Canada, Mexico, and China.

In the previous trading session on Wednesday, the S&P 500 experienced a decline of 0.4%, the Dow Jones Industrial Average fell by 0.3%, and the tech-heavy Nasdaq composite decreased by 0.6%.

Additionally, oil prices on Friday saw a rise, with U.S. benchmark crude climbing by 46 cents to reach $69.18 per barrel. Brent crude also increased slightly, gaining 10 cents to $72.88 per barrel. The euro experienced a minor gain as well, rising to $1.0575 from a previous rate of $1.0557.