(fxcue news) - Asian stocks ended mixed in thin cautious trade on Thursday amid the Thanksgiving holiday in the U.S. Amid much uncertainty about U.S. President-elect Donald Trump's tariff policies and the Federal Reserve's interest-rate path, investors looked ahead to a key economic meeting of Chinese policymakers next month, where there could be more stimulus actions to boost the struggling economy. China's Shanghai Composite index dropped 0.43 percent to 3,295.70 due to prevailing uncertainty around U.S. policies against China. Hong Kong's Hang Seng index fell 1.20 percent to 19,366.96. Japanese markets swung between gains and losses before finishing notably higher as the dollar rebounded back up to the lower 151-yen range and reports emerged that U.S. restrictions on sales of semiconductor technology and AI memory chips to China would not be as severe as previously expected. The Nikkei average rose 0.56 percent to 38,349.06 while the broader Topix index settled 0.82 percent higher at 2,687.28. Seoul stocks fluctuated before ending on a flat note as the Bank of Korea cut its key policy rate for a second consecutive meeting and lowered its growth forecasts, citing weaker global demand, higher tariffs and more policy uncertainty. The Kospi average finished marginally higher at 2,504.67 despite heavy selling in the tech space. Samsung Electronics dropped 1.4 percent and SK Hynix slumped 4.3 percent while LG Chem added 1.3 percent. Australian markets soared to new highs, helped by a sustained rally in the banking sector. The benchmark S&P/ASX 200 rose 0.45 percent to 8,444.30 while the broader All Ordinaries index settled 0.47 percent higher at 8,700. Commonwealth Bank of Australia, the country's biggest bank, rose 0.6 percent to extend recent sharp gains while Westpac added 0.8 percent, and NAB climbed 0.9 percent. Healthcare stocks extended gains for a fifth consecutive session, with biotech CSL adding 1.6 percent. Across the Tasman, New Zealand's benchmark S&P/NZX 50 index fell 1.21 percent to 13,053.56. Fisher & Paykel Healthcare declined 1.5 percent after the respiratory care business posted half-year profits and revenues at the lower end of guidance. U.S. stocks retreated from record highs overnight as PC makers Dell Technologies (DELL) and HP Inc. (HPQ) provided disappointing earnings guidance and new data showed an uptick in inflation. The annual rate of growth in the PCE price index accelerated to 2.3 percent in October from 2.1 percent in September, while the core personal consumption expenditure index climbed 2.8 percent from the corresponding period last year, reaching a six-month high, the Commerce Department said. In other economic news, the American economy expanded at a healthy 2.8 percent annual pace from July through September while weekly jobless claims fell again last week, separate reports showed. The S&P 500 slid 0.4 percent to snap a seven-session winning streak and the tech-heavy Nasdaq Composite shed 0.6 percent while the Dow dipped 0.3 percent to end a three-day streak of record highs.