---
title: "【True Insight Hong Kong Stocks Experts】The latest Federal Reserve meeting has concluded, deciding to cut interest rates by half a percent."
description: "Hong Kong stock market trends and analysis: U.S. stocks rose initially on Wednesday but later retreated after the Federal Reserve's latest interest rate meeting concluded with a decision to cut rates "
type: "topic"
locale: "en"
url: "https://longbridge.com/en/topics/23943826.md"
published_at: "2024-09-19T01:21:04.000Z"
author: "[真灼财经](https://longbridge.com/en/profiles/1067948)"
---

# 【True Insight Hong Kong Stocks Experts】The latest Federal Reserve meeting has concluded, deciding to cut interest rates by half a percent.

**Hong Kong Stock Market Trends and Analysis**

U.S. stocks rose initially on Wednesday but later retreated. The Federal Reserve concluded its latest interest rate meeting, deciding to cut rates by 50 basis points. Market concerns about the U.S. economic outlook led to all three major indices closing lower. The U.S. dollar fluctuated but remained stable, with the 10-year Treasury yield rebounding to 3.71%. Gold prices hit a new high before softening, while oil prices declined. Hong Kong's pre-market ADRs were generally weak, suggesting a lower open for the main market. Mainland stocks performed well yesterday, with the Shanghai Composite Index opening lower but rising 0.5% by the close. Trading volume in the Shanghai and Shenzhen markets remained subdued. Hong Kong stocks improved ahead of the holiday, buoyed by expectations of an interest rate cut cycle. Interest-sensitive stocks performed well, lifting the market above the 20-day moving average. However, with the Stock Connect suspended, overall trading volume stayed light. Weakness in overseas markets and a lack of focal points for speculation suggest the index will continue fluctuating between 17,000 and 17,800 points.

**Industry News**

The National Bureau of Statistics reported that industrial output above designated size grew 4.5% year-on-year in August, the slowest pace in five months and below the market expectation of 4.8%. Retail sales of consumer goods totaled 3.87 trillion yuan in August, up 2.1% year-on-year, missing the expected 2.5% growth. Excluding automobiles, retail sales reached 34.78 trillion yuan, rising 3.3%. In the first eight months, total retail sales of consumer goods amounted to 31.25 trillion yuan, up 3.4%, with non-auto sales at 28.18 trillion yuan, up 3.9%. Fixed-asset investment in the first eight months was 32.94 trillion yuan, up 3.4% year-on-year—the slowest growth this year—slightly below the expected 3.5%. Private investment fell 0.2%, infrastructure investment rose 4.4%, manufacturing investment grew 9.1%, and real estate development investment dropped 10.2%. The urban surveyed unemployment rate in August was 5.3%, up 0.1 percentage points from the previous month and the highest in six months. The rate in 31 major cities rose to 5.4%, a 13-month high, up from 5.3% in July. Key macroeconomic indicators suggest weak growth momentum, necessitating further stimulus policies to boost consumption and investment and reverse the sluggish trend.

(The author is a licensed person with the SFC and holds no positions in the mentioned stocks.)

Daily Hong Kong Stock Market Analysis

Investment Director, Convoy Asset Management

Guo Jiayao, CFA

Date: Thursday, September 19, 2024

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.