\n<\/p>\n
Asian stocks ended mixed on Thursday despite a benign inflation report cementing expectations that the Federal Reserve will keep cutting interest rates. <\/p>\n
Investors awaited the outcome of a key policy meeting in China, where leaders are expected to map out next year’s economic priorities. <\/p>\n
The dollar held steady in Asian trade and gold nudged higher for a fifth straight session to hover near a more than two-week high while oil extended overnight gains on the possibility of tighter sanctions on Russian crude.<\/p>\n
China’s Shanghai Composite index climbed 0.85 percent to 3,461.50 after reports that China’s leaders and policymakers are considering allowing the yuan to weaken next year in response to the threat of a trade war with the US.<\/p>\n
The yuan held its ground above a one-week low after the central bank kept the official midpoint for the currency stable. Hong Kong’s Hang Seng index jumped 1.20 percent to 20,397.05.<\/p>\n
Japanese markets<\/span> ended sharply higher, led by technology stocks after a strong showing for tech pushed Amazon.com Inc and Meta Platforms Inc. to fresh records overnight.<\/p>\n The Nikkei average closed up 1.21 percent at 39,849.14 after surging above 40,000 for the first time since mid-October. The broader Topix index settled 0.86 percent higher at 2,773.03. The yen languished near two-week low against the dollar as traders pared bets for a Bank of Japan rate hike next week.<\/p>\n Advantest jumped 5.1 percent and SoftBank Group added 1.9 percent following reports that Apple is partnering with Broadcom to develop a custom AI processing chip, code-named Baltra. <\/p>\n Seoul stocks rose for a third day running, with the Kospi average closing up 1.62 percent at 2,482.12, led by heavyweight technology<\/span> stocks. Samsung Electronics jumped 3.5 percent and SK Hynix added 2.5 percent.<\/p>\n Australian markets fell modestly as data showing a big drop in the unemployment rate last month prompted traders to pare rate-cut bets. <\/p>\n The benchmark S&P\/ASX 200 dipped 0.28 percent to 8,330.30, extending losses for a third straight session to hit a three-week low. The broader All Ordinaries index settled 0.27 percent lower at 8,586.90.<\/p>\n Insignia Financial shares jumped more than 11 percent on reports that private equity investor Bain Capital was in advanced stages of making a buyout offer for the wealth manager.<\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 index ended down 0.54 percent at 12,692.72.<\/p>\n U.S. stocks rose broadly overnight and the dollar hit a two-week high as in-line inflation data reinforced expectations that the Federal Reserve will cut interest rates by another quarter point next week.<\/p>\n Data showed the U.S. consumer price index rose 0.3 percent in November, the largest gain since April after climbing by 0.2 percent for four straight months.<\/p>\n On an annual basis, inflation rose to 2.7 percent last month from a year ago, up slightly from 2.6 percent in October. <\/p>\n Core inflation stayed firm, rising 0.3 percent for the fourth straight month. The annual rate came in at 3.3 percent, in line with forecasts. <\/p>\n The tech-heavy Nasdaq Composite surged 1.8 percent to reach a new record high and close above 20,000 for the first time. <\/p>\n The S&P 500 climbed 0.8 percent to end just shy of a new high while the Dow slipped 0.2 percent. <\/p>\n<\/p>\n<\/div>\n