BANGKOK (AP) — Stocks were mixed in Asia on Thursday after a weak close on Wall Street following a report showing rising U.S. inflation last month.

The dollar rose from 155.49 yen to 156 Japanese yen; This reflects expectations that the dollar will gain value against other currencies within the scope of the policies expected after President-elect Donald Trump takes office.

Japan’s Nikkei 225 index rose less than 0.1% to 38,754.50 points, while South Korea’s Kospi index rose 0.5% to 2,429.23 points. Australia’s S&P/ASX 200 index rose 0.4% to 8,223.20 points.

Chinese markets declined; The Hang Seng in Hong Kong fell 0.9% to 19,649.91. Shanghai Composite index lost 0.3 percent to 3,428.37 points.

While SET in Bangkok lost 0.2%, Taiex in Taiwan lost 0.5%, Sensex in India increased by 0.1%.

Capital Economics’ Stephen Innes said a strengthening dollar tends to put pressure on other economies. The Thai baht has also weakened against the dollar since the US election; The Chinese yuan, or renminbi, is also currently at 7.2245 per dollar and was trading at around 7 yuan per dollar in early October.

“The dominance of the dollar is poised to turn into an economic disaster for Asia, especially economies closely linked to China,” he said in a comment. “Countries with large amounts of debt in US dollars are bracing for a coup,” he added.

US stock markets drifted towards a mixed end on Wednesday Latest inflation update Hopes have increased that a cut in interest rates next month will contribute more to the economy.

The S&P 500 was virtually unchanged, rising 1.39 points to 5,985.38, up less than 0.1%. This was his first loss since a big event The rally broke out After Election Day, November 5th. The Dow Jones Industrial Average index increased by 0.1 percent to 43,958.19 points, and the Nasdaq index decreased by 0.3 percent to 19,230.74 points.

U.S. consumer inflation rose to 2.6% in October from 2.4%, but the key measure called “core inflation” did not rise. Economists say such core inflation can be a better indicator of future trends, so the figures add to expectations of more aid from the Federal Reserve.

Fed begins cutting interest rates from two-decade high in September to protect job market buzzing after bringing g Inflation has fallen almost completely Achieved 2% target. It was cut again earlier this month, and traders see a roughly 80% chance of a third cut at next month’s meeting, according to data from CME Group.

These expectations caused the yield on the two-year Treasury note to fall from 4.34% to 4.27% at the end of Tuesday. The yield on the 10-year Treasury note, which further takes future economic growth into account, rose to 4.45% from 4.43% at the end of Tuesday.

But T. Rump’s victory Developments in the presidential elections increased uncertainty regarding the future course of the Fed. Economists say his preferences lower tax rateshigher tariffs and less regulation ultimately high US government debt and inflationbut it also brings about faster economic growth.

While low interest rates can stimulate the economy and investment prices, they can also fuel inflation.

Rivian Automotive gained 13.7% after the electric vehicle company provided more details about its joint venture with Volkswagen Group. They had announced it before. The total size of the deal could be as high as $5.8 billion, which is more than the $5 billion the companies had previously said.

Spirit Airlines’ shares lost 59.3% of their value after this incident. he said in a regulatory filing. He said he was trying to renegotiate the repayment of its debt to strike a deal that could eliminate the company’s shareholders but protect employees and customers.

inside crypto marketBitcoin was trailing $90,300 after surging above $93,000 as cryptocurrencies rose overall. Trump embraces cryptocurrenciesHe promised to make the US the crypto capital of the world.

dogecoinThe cryptocurrency, a favorite of Tesla’s Elon Musk, also gave up some of the gains it made earlier in the day. Trump named Musk as one of the heads of a company “Department of Government Efficiency” or DOGE for short.

In other early trading Thursday, benchmark U.S. crude oil fell 37 cents to $68.06 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, fell 29 cents to $71.99 a barrel.

The euro fell from $1.0587 to $1.0548.

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AP Business Writer Stan Choe contributed.