• Sat, Feb 28, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

17 September 2024 10:29  |

Hong Kong Stocks Soar Ahead of Expected Fed Rate Cut; Midea Surges on Debut

Hong Kong stocks jumped to a two-week high as local developers rallied ahead of an expected rate cut from the Federal Reserve, as appliance maker Midea Group surged on its trading debut.

Midea shares rose 8 per cent to HK$59.20 in their Hong Kong trading debut. It was the city's largest initial public offering (IPO) in more than three years.

The Hang Seng Index added 1 per cent to 17,603.94 as of 10.05am local time, its highest level since September 3, while the Tech Index gained 0.6 per cent. Mainland markets are closed for a holiday.

Elsewhere, food delivery platform Meituan jumped 1.1 per cent to HK$127.90, personal computer giant Lenovo gained 1.2 per cent to HK$9.51 and electric vehicle company Li Auto added 0.7 per cent to HK$74.70.

CK Asset Holdings jumped 2.1 per cent to HK$31.45 and Henderson Land climbed 1.5 per cent to HK$24.15, leading gains among Hong Kong developers ahead of the Fed's rate decision.

Source : SCMP

Related News

HANGSENG

Hang Seng Index Falls 0.2%; ICBC Leads Decline

The Hang Seng Index fell for the second day, dropping 0.2%, or 40.48 to 17,651.49 in Hong Kong. The index dropped to the lowe...

3 September 2024 15:26
HANGSENG

Hang Seng Index Falls 0.7%; Led by Finance Sector

The Hang Seng Index fell 0.7% at 17,108.71 in Hong Kong. The index dropped to the lowest closing level since Aug. 9 after the...

11 September 2024 15:23
HANGSENG

Hang Seng Index Falls 1.1%; Led by Commerce Sector

The Hang Seng Index opened 1.1% lower at 17,783.91 in Hong Kong. In early trading, commerce and industry stocks led the mar...

2 September 2024 09:15
HANGSENG

Hang Seng Index Falls 1.4%; Alibaba Leads Decline

The Hang Seng Index fell for the fifth day, dropping 1.4%, or 247.34 to 17,196.96 in Hong Kong. The index dropped to the lowe...

9 September 2024 15:25
BIAS23.com NM23 Ai