Hong Kong   -   Asian markets were mixed Thursday as investors tried to gauge the outlook for US interest rates, while also keeping tabs on developments in France as it heads for crucial elections. With Wall Street closed, there were few catalysts to drive buying, though sentiment has been buoyed this week by recent data indicating the world’s top economy is slowing gradually, giving the Federal Reserve some freedom to ease monetary policy.

Traders are closely following the utterances of US central bank officials on their outlook for rates, with most warning that while inflation was on a downward trajectory, they wanted to see more evidence before committing to a cut. Analysts say this means there will be two reductions at most, with many predicting just one this year — in line with the Fed’s “dot plot” gauge released last week.