World shares are mixed, tracking Wall Street's winning streak, as US markets close for Thanksgiving

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MANILA, Philippines (AP) — Shares in Europe are mixed following gains in most Asian markets.

The futures for the S&P 500 and the Dow Jones Industrial Average were nearly unchanged ahead of Thursday's Thanksgiving holiday.

In early European trading, Germany's DAX climbed 0.2% to 23,781.53. Britain's FTSE 100 slid 0.2% to 9,677.14, while the CAC 40 in Paris was down less than 0.1% at 8,096.41.

Most Asian markets advanced. Japan’s Nikkei 225 added 1.2% to 50,167.10 as investors bet that the Federal Reserve will cut interest rates at its Dec. 10 meeting.

The Japanese government reportedly plans to issue 11 trillion yen ($70.5 billion) in new bonds to fund its economic package. Tech-related stocks advanced, with SoftBank Group jumping 3.6% and Kioxia Holdings up 7.9% following a nearly 15% rout the day before.

In Chinese markets, Hong Kong’s Hang Seng index picked up nearly 0.1% to 25,945.93, while the Shanghai Composite index climbed 0.3% to 3,875.26.

Gains were tempered by data that showed profits for the first ten months of 2025 at major Chinese industrial firms rose a lackluster 1.9% year-on-year, down from 3.2% growth in the previous period.

In South Korea, the Kospi added 0.7% to 3,986.91. The Bank of Korea kept its policy rate unchanged at 2.5%, supporting financial stability amid a weakened currency and market concerns on rising housing prices.

Australia's S&P/ASX 200 rose 0.1% to 8,617.30 while Taiwan’s tech-heavy Taiex index added 0.5%. India's BSE Sensex was up 0.3%.

On Wednesday, U.S. stocks closed broadly higher, with the S&P 500 gaining 0.7% and the Dow up 0.7%. The Nasdaq composite added 0.8%.

Stocks have been rallying as comments from Federal Reserve officials have given traders more confidence the central bank will again cut interest rates at its meeting in December. Traders are betting on a nearly 83% probability that the Fed will cut next month, according to data from CME Group.

Solid gains for technology companies led the rally, though most sectors in the benchmark S&P 500 index finished higher. Gainers also outnumbered decliners by more than 2 to 1 on the New York Stock Exchange.

U.S. markets have a shortened trading week due to the Thanksgiving holiday, closing on Thursday and opening for shorter hours on Friday.

The market’s recent rebound, fueled by investor hopes for another Federal Reserve interest rate cut in December, has helped erase most of the major indexes’ losses following a bout of selling earlier this month.

In other dealings early Thursday, U.S. benchmark crude added 6 cents to $58.71 per barrel. Brent crude, the international standard, was flat at $62.54 per barrel.

The U.S. dollar slipped to 156.29 Japanese yen from 156.47. The euro slid to $1.1585 from $1.1595.