Europe Asia News

Headline inflation in Japan’s capital eased to 2.7% in October from 2.8% in the previous month. Core inflation, which excludes fresh food prices but includes energy costs, came in at 2.8%, slightly above economists’ expectations of 2.7%. The figure remains above the central bank’s 2% target and has strengthened expectations of a potential interest rate hike in the near term.

Investors are also watching India’s GDP data for the second quarter of the fiscal year through September, due later in the day. Japan’s Nikkei 225 index slipped 0.15%, while the broader Topix index edged up 0.1%. South Korea’s Kospi index fell 1.41%, whereas the small-cap Kosdaq index gained 3.4%.

Battery materials producer Enchem, listed on the Kosdaq, jumped by around 13% after South Korean media reported that it had received an order from Chinese battery maker Contemporary Amperex Technology Limited (CATL).

LG Energy Solution lost more than 6.2%, making it the biggest loser on the Kospi, after its parent company LG Chem announced it would cut its stake from around 80% to 70% in a bid to boost shareholder returns.

Australia’s S&P/ASX 200 index dipped slightly. Hong Kong’s Hang Seng index fell 0.24%, while the CSI 300 index on the Chinese mainland rose 0.23%. Shares of property developer China Vanke gained 1.68% in Hong Kong after earlier hitting an all-time low. India’s Nifty 50 index added 0.11%, and the BSE Sensex climbed 0.14%.

In the United States, the three major indices were little changed. Futures on the Dow Jones Industrial Average rose by just 10 points, while S&P 500 and Nasdaq-100 futures traded slightly above the flat line.

Equities are on track to post a monthly loss as trading resumes on Friday. A pullback in technology stocks has weighed on the major indices in November, amid growing doubts over the future profitability of artificial intelligence companies.

Some investors, however, hope that this month’s decline will pave the way for a year-end rally in the major indices, as they step in to buy heavily punished stocks at more attractive valuations.

U.S. markets were closed on Thursday for the Thanksgiving holiday and will also shut early on Friday at 1:00 p.m.