World share markets traded in different directions on Thursday as investors weighed a recent Wall Street rally against fresh economic data and the looming Thanksgiving holiday in the United States. European benchmarks were broadly steady after a positive session in most major Asian markets, while U.S. equity futures suggested a muted open later in the day.
Futures tied to the S&P 500 and the Dow Jones Industrial Average were little changed in early electronic trading, reflecting a pause after four straight days of gains for U.S. stocks. The calm followed a run-up driven by growing expectations that the Federal Reserve will deliver another interest rate cut at its meeting on December 10, a move investors hope will extend the current upswing in risk assets.
In early European dealings, Germany’s DAX edged 0.2% higher to around 23,781, while Britain’s FTSE 100 slipped 0.2% to roughly 9,677. France’s CAC 40 in Paris was fractionally lower, trading just under 8,100. The narrow moves underscored a cautious tone after recent advances that have pushed several indices back toward record territory.
Asian Stocks Lifted By Rate-Cut Hopes
Asian markets mostly moved higher, taking their cue from Wall Street’s winning streak and the prospect of easier U.S. monetary policy. In Tokyo, the Nikkei 225 climbed about 1.2% to near 50,167, extending gains that have been fueled by robust technology shares and a weaker yen. Investors in Japan are betting that a Fed rate cut will help stabilize global growth and support export-focused companies.
Japanese policy developments also drew attention. Local media reported that the government plans to issue around 11 trillion yen (about $70.5 billion) in new bonds to help finance its latest economic support package. The borrowing plan highlights the authorities’ continued reliance on fiscal stimulus as they seek to bolster demand and offset lingering price pressures on households.
Technology-linked names were among the strongest performers in Tokyo trading. Shares of conglomerate SoftBank Group rose roughly 3.6%, while chip-related Kioxia Holdings rebounded nearly 8% after suffering a sharp decline of close to 15% in the previous session. Semiconductor and AI-related stocks across the region have been volatile in recent weeks, reflecting shifting sentiment over whether the sector’s spectacular gains can be sustained.
Elsewhere in Asia, Hong Kong’s Hang Seng index added just under 0.1% to about 25,946, while the Shanghai Composite index in mainland China advanced around 0.3% to roughly 3,875. In South Korea, the Kospi gained close to 0.7% as technology firms and exporters benefited from expectations that lower U.S. rates will ease global financing conditions.
Europe Steadies As China Data Disappoints
Despite the generally positive lead from Asia, sentiment remained restrained in Europe as investors assessed fresh figures from the world’s second-largest economy. Official data showed that profits at major Chinese industrial companies grew by only 1.9% in the first ten months of 2025, slowing from 3.2% in the previous period. The weaker momentum reinforced concerns about the durability of China’s recovery and the knock-on effects for global trade.
China’s sluggish profit growth stands in contrast to the upbeat tone in global equity markets over the past week, which has been driven largely by expectations of looser policy from the Federal Reserve and other central banks. Market participants have become more confident that easing inflation pressures and pockets of softness in U.S. consumer data will give policymakers room to reduce borrowing costs again, supporting valuations for stocks and other risk assets.
At the same time, some traders remain wary after recent bouts of volatility linked to heavyweight technology names. Shares of Nvidia, a bellwether for the artificial-intelligence boom, and cryptocurrencies such as bitcoin have swung sharply in recent sessions, prompting debate over whether parts of the market have become stretched after this year’s powerful rally in AI-related assets.
U.S. markets are closed on Thursday for the Thanksgiving holiday and will reopen for a shortened session on Friday, typically one of the lighter trading days of the year. Even so, investors will continue to monitor developments in U.S. Treasurys, where benchmark yields have drifted lower in recent days as bets on a December rate cut have strengthened. Lower yields generally make equities look relatively more attractive, particularly in rate-sensitive sectors such as technology and smaller capitalization stocks.
