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Asian shares are mixed in holiday-thinned trading as tech stocks slipped as a recent rebound lost steam
Teresa CerojanoFriday 28 November 2025 05:44 GMTAsian shares are mixed in holiday-thinned trading with Wall Street closed for Thanksgiving
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Asian shares were mixed Friday in holiday-thinned trading as tech stocks slipped as a recent rebound driven by hopes for an interest rate cut by the Federal Reserve lost steam.
While developments related to artificial intelligence have been driving recent ups and downs in world markets, the focus remains on the outlook for U.S. monetary policy. Recent comments by Fed officials have helped revive hopes the central bank will act during its meeting next month.
“Everyone is sprinting toward the same conclusion: the Fed will deliver holiday cheer,” Stephen Innes of SPI Asset Management said in a commentary.
Japan’s Nikkei 225 was unchanged at 50,172.60, with AI-linked stocks including Kioxia Holdings, Fujikura and Lasertec among the decliners.
Government data showed Tokyo’s year-on-year core inflation in November remained at 2.8%, unchanged from October and above the Bank of Japan’s 2% target. That reinforces expectations of a gradual shift by the central bank to higher interest rates, although a rate hike is not expected at the Bank of Japan's December meeting.
South Korea’s Kospi dropped 1.4% to 3,930.95. Data showed the country’s industrial production fell 4% month-on-month in October, more than the 1.1% decline in September. Semiconductor production plunged 26.5% month-on-month, pushing down tech stocks like LG Energy Solutions, SK Hynix, Samsung Electronics.
In Chinese markets, Hong Kong’s Hang Seng index lost 0.2% to 25,896.33. The Shanghai Composite index edged up 0.2% to 3,883.46.
Australia's S&P/ASX 200 index fell 0.1% to 8,608.90, while Taiwan's Taiex rose 0.9%. India's BSE Sensex was up 0.1%.
Shares in Europe advanced Thursday ahead of the Thanksgiving holiday.
On Wednesday, before the trading holiday in the U.S., stocks closed broadly higher on Wall Street. The S&P 500 gaining 0.7% and the Dow up 0.7%. The Nasdaq composite added 0.8%.
U.S. benchmark crude oil added 43 cents to $59.08 per barrel.
Early Friday, Brent crude, the international standard, rose 21 cents to $63.08 per barrel.
The U.S. dollar rose to 156.34 Japanese yen from 156.31 yen. The euro fell to $1.1584 from $1.1596.
