BANGKOK (AP) — Shares were mixed Thursday in Asia after stocks on Wall Street retreated, weighed down by losses for technology shares.

Tokyo's Nikkei 225 index gained 0.7% to 38,400.00 and Australia's S&P/ASX 200 advanced 0.8% to 8,473.30.

South Korea's Kospi was unchanged at 2,503.01 after the central bank cut its benchmark interest rate to relieve pressure on its slowing economy.

The Bank of Korea cut its key rate by a quarter percentage point to 3% and lowered its outlook for the country’s economic growth from to 2.2% from 2.4% for this year and to 1.9% from 2.1% for 2025.

Chinese shares fell as investors sold to lock in profits from recent gains.

Hong Kong's Hang Seng index lost 1.3% to 19,358.51 and the Shanghai Composite index fell 0.4% to 3,295.70.

U.S. markets will be closed Thursday for Thanksgiving, and will reopen for a half day on Friday.

Russia's ruble fell sharply against the U.S. dollar on Wednesday and was trading near its lowest level since the 2022 invasion of Ukraine, at 108.01 early Thursday, according to the Russian central bank.

On Wednesday, the S&P 500 fell 0.4% to 5,998.74, even though more stocks in the index notched gains than ended lower. The loss snapped a seven-day winning streak for the benchmark index.

The Dow Jones Industrial Average fell 0.3%, its first loss after five gains, to 44,722.06. The Dow and S&P 500 remain near the all-time highs they set on Tuesday.

The Nasdaq composite, which is heavily weighted with technology stocks, fell 0.6% to 19,060.48.

Losses for tech heavyweights like Nvidia, Microsoft and Broadcom were the drag on the market. Semiconductor giant Nvidia fell 1.2%. Its huge value gives it outsized influence on market indexes. Microsoft fell 1.2% and Broadcom finished 3.1% lower.

Several personal computer makers also helped pull the market lower following their latest earnings reports.

The Commerce Department reported that the U.S. economy expanded at a healthy 2.8% annual pace from July through September, leaving its initial estimate unchanged. The growth was driven by strong consumer spending and a surge in exports.

Consumers have been driving economic growth, but the latest round of earnings reports from retailers shows a mixed and more cautious picture.

Department store operator Nordstrom fell 8.1% after warning investors about a trend toward weakening sales that started in late October. Clothing retailer Urban Outfitters jumped 18.3% after beating analysts’ third-quarter financial forecasts.

Consumers are feeling the pinch of higher prices: The government's personal consumption expenditures index, or PCE, rose to 2.3% in October from 2.1% in September.