Hong Kong stocks added 44 points or 0.2% to 26,954 on Thursday morning, advancing for the second session and holding near four-year highs. Sentiment improved further after the Fed cut rates by 25bps for the first time in nine months and signaled two more reductions this year, citing labor market risks over inflation.
The Hong Kong Monetary Authority followed, lowering borrowing costs to 4.5%, the lowest since November 2022. Chief Executive Eddie Yue said the move should support property and the wider economy. Tech stocks led the strength after Beijing reportedly ordered firms to halt Nvidia chip purchases to cut reliance on US hardware and foster domestic alternatives.
Consumer shares also firmed after Chief Executive John Lee pledged to boost investment, tourism, and innovation in his 2025 policy address. SMIC jumped 5.6% to its highest since 2004, while Baidu surged 11% on AI progress. Other notable movers included China Longyuan Power (5.0%), Pop Mart (3.4%), and China Tower (2.8%).
Source: Trading Economics
The Hang Seng jumped 470 points, or 1.8%, to finish at 26,908 on Wednesday, picking up from a subdued close in the previous session and hitting its highest level since mid-July 2021 amid a widely expe...
Hong Kong stocks rose 189 points, or 0.7%, to 26,626 in early trade on Wednesday, rebounding from a muted close the day before as gains in tech and consumer shares lifted sentiment. The benchmark ind...
The Hang Seng ended little changed on Tuesday, hovering around 26,438 after dipping earlier in the session. Another record close on Wall Street Monday supported sentiment, as bets grew that the Fed wi...
The Hang Seng Index started the day with a rise of 90 points, or 0.34%, to 26,536. The China Enterprises Index gained 23 points, or 0.24%, to close at 9,407, while the Tech Index climbed 27 points, or...
The Hang Seng rose 58 points or 0.2% to close at 26,447 on Monday, marking its second straight gain and tracking an uptick in U.S. futures ahead of an expected Fed rate cut this week. While markets ex...
Silver slipped below $41.5 per ounce on Thursday, falling for a third consecutive session after the US Federal Reserve delivered a widely expected quarter-point rate cut but struck a more cautious stance on further easing than markets...
Gold prices held around $3,650 per ounce on Thursday after falling in the previous session. The US dollar strengthened as the Fed cut interest rates by 25 bps as expected, but Chairman Jerome Powell emphasized that further easing would be cautious...
The Japanese Yen (JPY) edges lower during the Asian session on Thursday in reaction to the weaker-than-expected release of Core Machinery Orders data from Japan. This, along with a further US Dollar (USD) recovery from the post-FOMC swing low to...
The U.S. Federal Reserve holds its latest policy meeting this week with a historic challenge to its leadership pending in the courts and a rushed...
President Donald Trump said on Tuesday that the US and China have reached a deal on TikTok. The deal will transfer the assets of the ByteDance-owned...
European stocks edged lower on Tuesday, with both the STOXX 50 and STOXX 600 slipping 0.2%, pausing after three straight sessions of gains. Traders...
US stocks closed higher on Monday (September 15), driven by gains in technology stocks after President Donald Trump indicated that U.S.-China trade...