Market Roundup

Hong Kong stocks fluctuated today as the Federal Reserve cut interest rates by 0.25 percentage points as expected. The Hang Seng Index opened 44 points lower before turning positive, breaking through the 27,000 mark for the first time in over four years in early trading, reaching a high of 27,058 points. However, the index plummeted in the afternoon as A-shares weakened, falling by over 500 points at one point. The index fell 363 points, or 1.4%, to 26,544 points for the day. The H-share Index fell 140 points, or 1.5%, to 9,456 points, while the Hang Seng Tech Index fell 63 points, or 1.0%, to 6,271 points. Total market turnover for the day was HK$413.3 billion. Among individual stocks, Hong Kong Broadband (1310) surged 68% on news of its business restructuring. Meanwhile, the market weakened in the afternoon, with the Hong Kong Exchanges and Clearing Limited (388) falling 3.1%.

Source: KGI Investment Products and Solutions Department

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