Market Roundup

The Federal Reserve cut interest rates by 0.25% as expected. The dot plot indicates only two rate cuts next year. The Hang Seng Index closed at 19,752 points, down 112 points or 0.56%. The Hang Seng Tech Index closed at 4,439 points, down 29 points or 0.6%. The China Enterprises Index fell 29 points or 0.4% to 7,152 points. The total market turnover for the day was HKD 142.9 billion. Hong Kong real estate stocks fell, with Henderson Land (12) down over 3% and Sun Hung Kai Properties (16) down over 2%. HERBS GROUP (2593), first trading day, saw its stock price rise 10.4% to HKD 4.14.

Source: KGI Investment Strategy

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