Heurist Finance

Hong Kong stocks fall after Fed hikes rates, signals more tightening

South China Morning Post · yesterday
Hong Kong stocks fall after Fed hikes rates, signals more tightening
  • Hong Kong's Hang Seng Index fell 0.8% to 24,537.30 and the Hang Seng Tech Index lost 0.5% after the Fed hike.
  • Mainland China's CSI 300 slipped 0.2% while the chip-heavy Star Market 50 was little changed.
  • The Fed raised its benchmark rate by 0.25 percentage points to a target range of 3.75%-4% at its September policy meeting, the first increase in three years.
  • Fed chair Kevin Warsh committed to bringing inflation back to 2% and restoring the central bank's credibility, with further tightening on the table.

Quotes

“The Fed raised its benchmark interest rate by 0.25 percentage points to a target range of 3.75 per cent to 4 per cent at its September policy meeting”— South China Morning Post
“The benchmark Hang Seng Index fell 0.8 per cent to 24,537.30 as of 9.30am local time.”— South China Morning Post

Sources