Hong Kong stocks extend gains on rate cut, bets on Beijing stimulus tonic

Quick Summary:

Stocks advance for a second day after a second rate cut this year by the HKMA; eyes on Beijing to unveil a stimulus bonanza to counter US tariff threats.

Fed officials hinted at a cautious easing path in 2025, as Trump’s second term is forecast to induce inflationary policies.

China’s biggest chipmaker SMIC rallied 4.1 to HK$29.40 after its bullish guidance on fourth quarter sales.

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Article Details

Author / Journalist: Aileen Chuang

Category: Business

Markets: Hong KongChina

Topics: Rose Jumped Monetary Authority Cent Stocks Kong Index Hong Second Rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 10:23:43 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 244 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23466459

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About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 21 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 38 minutes ago

Coverage Areas: Hong Kong

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News Language: English

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Publisher ID: #42

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