The Asian markets showed a split trend on Friday, following a mixed day on Wall Street. Despite the continued decrease in US inflation reported in recent data, there was a lack of enthusiasm in the market to rekindle the buying momentum seen in November.

The start of the new month didn't witness a rush back into trading following a challenging week that erased some of the gains made in the previous three weeks in the region. The losses persisted, despite the growing anticipation of a potential interest rate cut by the Federal Reserve in the first half of 2024. This anticipation stems from indications that the Fed's efforts to manage inflation through tightening measures are starting to take effect.

On Thursday, further positive news on this front emerged with data showing a deceleration in the Personal Consumption Expenditures (PCE) price index, the Fed's favored inflation gauge, during October. Other economic indicators also hinted at a softening in consumer spending and the labor market.Read More