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Foreign Market News

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(21 Mar 2024, 17:03)

Hong Kong Market climbs as Fed maintains 2024 policy easing path

Hong Kong share market finished session strongly in positive territory on Thursday, 21 March 2024, as risk sentiments underpinned on tracking a record on Wall Street overnight after the Federal Reserve kept interest rates unchanged and continued to signal that three rate cuts this year, easing fears that the recent bout of inflation would force the central bank to lean less dovish.

The US Federal Reserve left the target rate unchanged at 5.25% to 5.5% in second policy meeting of the year and projected three interest rates cuts this year saying inflation pressures had eased “substantially”. in the United States. Fed's statement was viewed as slightly dovish as markets had braced for the possibility that policymakers could trim the number of projected rate cuts this year.

The Hon...

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