South Korea's Central Bank Surprises with Consecutive Rate Cuts Amid Economic Concerns

Asia-Pacific markets showed mixed performance as investors reacted to South Korea's unexpected interest rate cut of 25 basis points to 3%, marking the first consecutive cuts since 2009. This move comes amid South Korea's efforts to stimulate its economy following weaker-than-expected GDP growth. Meanwhile, U.S. markets saw declines in major tech stocks, with the S&P 500 snapping a seven-day winning streak. Inflation data in the U.S. met expectations, providing some relief to the Federal Reserve ahead of the Thanksgiving holiday.