Hang Seng Rises: Fed & Xi–Trump Effect?
The Hang Seng Index rose 0.4% to 26,455.74 on Thursday (October 30th), marking a three-week high. The rise was driven by expectations of a deal at the Xi–Trump meeting and positive sentiment after the Fed cut interest rates by 25 basis points and the Hong Kong Central Bank (HKMA) followed suit. Meanwhile, Hang Seng Tech edged down 0.1%, while in mainland China, the CSI 300 fell 0.3% and the Shanghai Composite dropped 0.2%.
Blue-chip stocks rose: China Hongqiao surged 6.4% to HK$29.44, Zijin Mining rose 3.9% to HK$32.32, Ping An Insurance rose 3.2% to HK$57.90, and HSBC added 2.1% to HK$108.70. The market is awaiting the outcome of the summit in South Korea, which could potentially extend the tariff break, ease rare earth export regulations, and discuss the future of TikTok and US soybean purchases. Expectations of looser policies and the potential for improved trade relations are key drivers of sentiment in Hong Kong. (az)
Source: Newsmaker.id
