Asian Markets Waver Amid US Inflation and Holiday Uncertainty

Asian stock markets mostly declined on Thursday due to concerns over the U.S. interest rate outlook following strong inflation data. Despite a surprise rate cut by South Korea's central bank, regional markets were influenced by Wall Street's losses and potential trade tensions as President-elect Donald Trump threatened additional tariffs on China. While Japan's indices saw gains, other Asian markets like China, Hong Kong, Thailand, and the Philippines experienced declines. Investors are now speculating that the U.S. Federal Reserve may maintain current interest rates in early 2025, with a potential rate cut expected in December.