Asia-Pacific markets showed mixed performance on Friday as U.S. stock futures remained largely flat during the Thanksgiving holiday, leaving the Nasdaq Composite on track to end a seven-month winning streak.

Key Market Movements

• Japan: Nikkei 225 fell 0.15%, while the broader Topix gained 0.1%. Tokyo’s headline inflation eased to 2.7% in October, slightly below expectations, though core inflation came in at 2.8%, above the central bank’s 2% target, supporting the possibility of a near-term rate hike.
• South Korea: Kospi dropped 1.41%, led by LG Energy Solution, which fell over 6.2% after LG Chem announced plans to reduce its stake to about 70%. Meanwhile, small-cap Kosdaq rose 3.4%, boosted by Enchem, which surged ~13% after winning a supply order from Chinese battery maker CATL.
• China & Hong Kong: Hong Kong’s Hang Seng Index lost 0.24%, while Shanghai’s CSI 300 gained 0.23%. China Vanke shares rose 1.68% in Hong Kong after hitting an all-time low earlier.
• Australia: S&P/ASX 200 closed marginally lower.
• India: Nifty 50 added 0.11% to 26,216.70, while the BSE Sensex gained 0.14%.

Economic Data in Focus

• Investors are eyeing India’s Q2 GDP data for the fiscal year through September.
• Japan’s inflation figures are being closely watched for signals of near-term monetary policy adjustments.

U.S. Market Outlook

• U.S. markets were closed Thursday for Thanksgiving, with Friday trading scheduled to end early at 1 p.m. ET.
• Futures for the Dow Jones, S&P 500, and Nasdaq were largely flat overnight, pointing to a potential losing month in November, weighed down by a pullback in technology stocks, particularly AI-related companies.
• Some analysts are optimistic that the month’s decline could set the stage for a year-end rally, as investors target undervalued stocks.

Investors will continue to monitor tech stock performance, global inflation trends, and upcoming economic data in Asia and India for cues on market direction.