Hong Kong stocks held steady over the trading week of Sept 15-19, supported by monetary easing, a wave of new listings and fresh policy commitments, even as broader risks kept investors cautious.
The Hong Kong Monetary Authority trimmed its base rate by 25 basis points to 4.5% on Sept 17, following the US Federal Reserve’s move. Local banks mirrored the cut with lower Hong Kong dollar lending rates, boosting sentiment in interest-sensitive sectors.
Investor attention also centred on Zijin Gold International’s planned US$3.21 billion IPO, set to be the city’s largest this year. The deal underscored a revival of Hong Kong’s IPO pipeline, particularly in commodities and precious metals.
Adding to the upbeat tone, Chief Executive John Lee pledged greater support for fintech, green finance and cross-border trade in his policy address. Separately, Hong Kong Exchanges and Clearing announced a tie-up with Abu Dhabi’s ADX to develop joint financial products and cross-listings.
Despite headwinds from China’s uneven recovery and global trade tensions, analysts said the combination of rate relief, strong listing activity and pro-growth policies has given investors reason for cautious optimism heading into the final quarter of the year.
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