Hong Kong Stock Market Update: SINOHOPE TECH surges over 8% as expectations of a Fed rate cut rise, Bitcoin reaches $43,000.

SINOHOPE TECH surged more than 8%, as of the time of writing, it rose 8.65% to HKD 2.26, with a turnover of HKD 1.3275 million. On the news front, the Federal Reserve maintained interest rates in the current range of 5.25%-5.50% as scheduled. This move marks the fourth pause in rate hikes by the Federal Reserve this year, following the unchanged rates in November, September, and June. After the announcement, Bitcoin rebounded to above $43,000. Some analysts pointed out that historically, maintaining or lowering interest rates often brings optimism to investors, as it means more disposable income and potential larger investments in various asset classes. This impact is not limited to traditional markets but also extends to new types of assets such as cryptocurrencies.