Seoul, South Korea – Asia-Pacific markets showed a mixed trading trend on Thursday following a pause in the Wall Street rally and as investors digested a surprise interest rate cut by the Bank of Korea.

In the United States, the personal consumption expenditure price index (PCE) rose by 2.3% on an annualized basis, surpassing the September figure of 2.1%. Additionally, core inflation, which excludes food and energy prices, increased by 2.8% in the 12 months through October, up from 2.7% the previous month, meeting economist expectations.

The Bank of Korea unexpectedly reduced its benchmark interest rate by 25 basis points to 3.0%. Market experts had anticipated the BOK to maintain its policy easing stance this month after a similar cut in October. In response to the announcement, South Korea’s Kospi index rose by 0.15%, while the Kosdaq climbed by 0.53%.

Meanwhile, Japan’s Nikkei 225 experienced a decline of 0.24%, while Australia’s S&P/ASX 200 index reached a new intraday high with a 0.49% increase. Hong Kong’s Hang Seng index dropped by 0.48%, retracing from its recent surge, while China’s CSI 300 index remained stable.

In the U.S., a drop in major technology stocks led to market losses in a subdued trading session. Companies like Nvidia and Meta Platforms faced declines, while Dell and HP saw significant drops in their stock prices following weak earnings forecasts. The S&P 500 closed with a 0.38% decline, ending a seven-day winning streak, while the Nasdaq Composite and the Dow Jones Industrial Average also experienced losses.

As Americans celebrate Thanksgiving, the U.S. markets will remain closed for the holiday. The global market conditions reflect a mix of economic indicators and corporate performances impacting investor sentiment and market movements.

Contributions from CNBC’s Alex Harring and Sean Conlon helped in the preparation of this report.