Asian shares appear poised for a steady end to November as renewed hopes for a U.S. rate cut alleviate valuation concerns, driving Treasuries to rally for the fourth consecutive month.
U.S. markets, closed for Thanksgiving, face a shortened Friday session, dampening activity across major asset classes. European stocks mostly rose, while currency movements remained subdued. The MSCI Asia-Pacific index stayed flat, anticipating a weekly gain, ending a four-week series of declines, though monthly figures show a 2.7% drop.
Market fluctuations were significant in November, triggered partly by high valuations of tech stocks and a prolonged U.S. government shutdown. Bitcoin dropped 17% over the month. The Federal Reserve remains cautious about policy changes, despite hints of a December rate cut from key figures. In currency markets, the yen stabilized after hitting a 10-month low, while the dollar faced a weekly decline.
