Edward Yau: The start of an interest rate cut cycle is expected to bring cautious positive impact to the Hong Kong economy

Hong Kong Financial Secretary Paul Chan stated that the Federal Reserve cut interest rates by 50 basis points, initiating an interest rate reduction cycle, which is expected to have a cautiously positive impact on the Hong Kong economy. Hong Kong interest rates will follow the trend of the United States, with the funding conditions expected to become more accommodative, easing corporate pressures and supporting investments. The rate cut may also attract tourists, promote consumption, and retail sales. Despite facing external challenges, the Hong Kong economy and financial markets are developing steadily, with an increase in bank deposits and IPO fundraising exceeding HKD 50 billion. It is expected that the new stock market will continue to warm up