Asia-Pacific markets opened mixed on Thursday following a surprise interest rate cut by South Korea, despite a rally on Wall Street. South Korea's central bank cut interest rates to 1.75%, accelerating from the previous rate of 2.1% in September. The Kospi index rose 0.15% while the Kosdaq climbed 0.53%. Meanwhile, the U.S. market experienced declines in technology stocks in a thin trading session, ahead of the Thanksgiving holiday.
Asia-Pacific markets opened mixed on Thursday after Wall Street rally stalled overnight and as investors assessed a surprise interest rate cut by South Korea ., accelerating from 2.1% in September. The so-called core inflation, which excludes food and energy prices, climbed 2.8% in the 12 months through October, up from 2.7% in the previous month.Sign up for NBC Philadelphia's News Headlines newsletter..
"This is a nice Black Friday gift for the Fed," he said."They can eat turkey and watch football for a day knowing that they are close to full employment with price stability." "It's not historically uncommon for the early part of December to be a shoulder period for stocks, but the market is still smack in the middle of its best 3-month run of the calendar," he said, referring to the period from Oct. 31 until Jan. 31.The broad index ticked down about 0.3% in afternoon trading. If that holds, it will mark its first negative and worst trading day since Nov. 15. In that session, the S&P 500 tumbled more than 1.3%.
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