Asian markets opened Friday with a cautious and uneven tone, as investors assessed fading momentum from earlier in the week and weighed global signals in a holiday-thinned trading environment.
Japan and South Korea drift lower
The opening tone across North Asia was subdued. Japan’s Nikkei 225 opened slightly weaker, reflecting profit-taking after several sessions of strong gains. South Korea’s Kospi also edged lower at the start of trade, mirroring the region’s cautious sentiment. Investors in both markets remained sensitive to currency movements and upcoming inflation data, which continue to shape expectations for central-bank policy through the end of the year.
China and Hong Kong steadier but searching for direction
Chinese equities opened broadly flat, with investors looking for fresh catalysts from domestic economic indicators and any potential policy signals. Mainland markets showed little appetite for risk early in the session, while Hong Kong opened modestly firmer as technology and consumer stocks attempted to recoup recent losses. Despite the early lift, the overall mood remained tentative, influenced by ongoing concerns about growth momentum and capital outflows.
Australia and Southeast Asia show selective resilience
Markets in Australia opened slightly higher, supported by stabilising commodity prices and continued optimism around future interest-rate adjustments. In Southeast Asia, trading was mixed. Some indices saw small gains on the back of local corporate news, while others lagged due to weaker external demand and currency pressures. The broader region remained constrained by limited direction from global markets.
Global backdrop: rate-cut expectations and low activity
Investor positioning continues to hinge on expectations of forthcoming interest-rate cuts from major central banks. Optimism earlier in the week had supported equities, but with global markets entering a period of reduced liquidity — particularly due to the U.S. Thanksgiving holiday — Asian trading volumes remained muted. The absence of strong external cues contributed to the cautious opening tone.
Outlook heading into the weekend
As Asia moves into the final trading sessions of the week, markets are likely to remain sensitive to macroeconomic announcements and any shifts in monetary policy expectations. Without decisive new catalysts, the region may continue to experience narrow trading ranges and elevated intra-day volatility. Investors will be watching upcoming U.S. and Chinese data releases for signals that could set the tone for early-December trading.
Newshub Editorial in Asia – 2025-11-28
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