World shares are mixed in holiday-thinned trading with Wall Street closed for Thanksgiving

MANILA, Philippines — Global stocks were mixed Friday in quiet holiday trading, as technology stocks fell as a recent rally driven by hopes of an interest rate cut by the Federal Reserve petered out.

In early European trading, Germany’s DAX lost almost 0.2% to 23,730.81 as traders awaited the release of inflation data later in the day.

Britain’s FTSE 100 index edged up 0.2% to 9,708.36 on gains in energy and mining stocks.

France’s CAC 40 index was almost unchanged at 8,100.87, despite government data showing the French economy grew 0.5% quarter-on-quarter in July-September, compared with 0.3% in the previous quarter.

Although developments in artificial intelligence have recently led to ups and downs in global markets, the focus remains on the outlook for US monetary policy. Recent comments from Fed officials have helped revive hopes that the central bank will act at its meeting next month.

“Everyone is rushing to the same conclusion: The Fed will bring holiday cheer,” Stephen Innes of SPI Asset Management said in a commentary.

In Asia, Japan’s Nikkei 225 index closed 0.2% higher at 50,253.91, rebounding from losses earlier in the day. Data showed that housing starts in Japan rose 3.2% in October from the same period last year, the first annual increase since March. The figure defied market expectations of a 5.2% decline and reversed a 7.3% decline in September.

Government data also showed that core inflation in Tokyo in November remained at 2.8%, unchanged from October and above the Bank of Japan’s 2% target. This reinforces expectations of a gradual move by the central bank towards higher interest rates, although a rate hike is not expected at the Bank of Japan’s December meeting.

South Korea’s Kospi fell 1.5% to 3,926.59 after the country’s industrial production fell 4% month-on-month in October, more than September’s 1.1% decline. Semiconductor production plunged 26.5% month-over-month, dragging down tech stocks like LG Energy Solutions, SK Hynix, Samsung Electronics.

In Chinese markets, Hong Kong’s Hang Seng index lost 0.3% to 25,858.89. The Shanghai Composite index edged up 0.3% to 3,888.60.

Australia S&The P/ASX 200 index fell less than 0.1% to 8,614.10, while Taiwan’s Taiex rose 0.3%. India’s BSE Sensex remained unchanged.

On Wednesday, ahead of the U.S. holiday, stocks closed higher on Wall Street. THE&The P 500 gained 0.7% and the Dow Jones rose 0.7%. The Nasdaq composite added 0.8%.

Early Friday, S futures&The P 500 and Dow Jones Industrial Average rose 0.1%.

Brent crude, the international price standard, rose 15 cents to $63.02 a barrel.

The US dollar fell from 156.31 Japanese yen to 156.34 Japanese yen. The euro fell to $1.1567 from $1.1596.