Global Markets Show Mixed Performance Ahead of Thanksgiving Holiday
Asia-Pacific markets were mixed as Wall Street closed with a broad-based rally before the Thanksgiving holiday. Australia's S&P/ASX 200 extended losses, while South Korea's Kospi and Hong Kong's Hang Seng index recorded gains. Japan's markets were closed for a public holiday. Oil prices slid after OPEC+ delayed its policy-setting meeting. Singapore's inflation rate accelerated for the second consecutive month. Alibaba shares remained unchanged after founder Jack Ma halted plans to reduce his stake. Investors are advised to monitor earnings as the economy shows signs of slowing. Morgan Stanley predicts an emerging AI trend that will benefit certain companies. Energy stocks underperformed in the S&P 500, while U.S. crude prices declined after OPEC delayed its meeting. Initial jobless claims came in lower than expected.