Before the interest rate cut, the market lacked catalysts, and the Hang Seng Index closed down 24.28 points | Lianhe Zaobao
Although the market has priced in interest rate cuts, concerns about the interest rate trend next year have arisen due to slightly higher personal consumption expenditures in the U.S. in September. The FTSE Straits Times Index fell by 24.28 points, closing at 4507.08 points. The U.S. PCE data showed a month-on-month increase of 0.27% in September, with the core index rising by 0.2% and a year-on-year increase of 2.8%. The data did not change the expectations for rate cuts but indicated that inflation remains above the Federal Reserve's target. Barclays strategists pointed out that the direction of interest rates in 2026 is uncertain and may remain unchanged, but if inflation persists, the market may increase the rate hike premium
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