The Hang Seng Index opened down 166 points at 24,145, POP MART opened down 3%, and Alibaba and Tencent fell 1%
Complete. Here is the key summaryThe Federal Reserve kept interest rates unchanged, but expectations for a rate hike by the end of the year have increased. As a result, the Hang Seng Index opened 166 points lower at 24,145 points, down 0.7%. HSBC's stock price reached a new high, while real estate stocks softened. In terms of individual stocks, C TRANSMISSION fell 23.1% after resuming trading, with POP MART, NetEase, and Zijin Mining leading the declines, while Alibaba and Tencent also dropped over 1%
《Economic Information Daily, 18th Special Report》The Federal Reserve announced that it will maintain the federal funds rate unchanged, in line with market expectations. The latest dot plot shows that the median interest rate is expected to be 3.8% by the end of this year, higher than the 3.4% predicted in March. Among the 18 officials, 9 expect an interest rate hike of 0.25%. After the announcement, the Dow Jones Industrial Average turned from gains to losses, and both the S&P 500 and Nasdaq closed lower. The Hang Seng Index opened at 24,145, down 166 points or 0.7%, with a main board turnover of HKD 3.346 billion. The Hang Seng China Enterprises Index reported 8,072, down 71 points or 0.9%. The Hang Seng Tech Index reported 4,628, down 41 points or 0.9%.
The US and Iran signed a peace agreement, and expectations for a rate hike by the Federal Reserve at the end of the year increased, leading to HSBC Holdings (00005) stock price hitting a new high, opening up 0.7% at HKD 149.
The Federal Reserve maintained the interest rate unchanged, and the dot plot indicates that expectations for a rate hike have increased, causing real estate stocks to weaken. New World Development (00016) fell 0.8% to HKD 113.7; Henderson Land Development (00012) fell 1.1% to HKD 26.06; Link REIT (00823) fell 0.3% to HKD 36.2.
China Transmission (00658) reported a net profit of approximately RMB 210 million for the year ending December 31 last year, with a projected loss of approximately RMB 6.5 billion for 2024. It resumed trading this morning, falling 23.1% to HKD 1.5.
The three largest decliners in the Hang Seng Index were: POP MART (09992), currently down 3.4% at HKD 165.5; NetEase (09999), down 2.8% at HKD 190; and Zijin Mining (02899), down 2.3% at HKD 32.34.
Heavyweight stock Alibaba (09988) fell 1.4% to HKD 105.4; Tencent (00700) fell 1.2% to HKD 440. (vs)