Published on 09/18/2025 at 04:58 am EDT
(MT Newswires) -- Hong Kong stocks faltered on Thursday, taking cues from Wall Street after the US Federal Reserve delivered a widely expected rate cut but signaled a cautious path ahead for further easing.
The Hang Seng Index lost 363.54 points, or 1.4%, to 26,544.85, while the Hang Seng China Enterprises Indexslipped 140.25 points, or 1.5%, to 9,456.52.
The US central bank cut its benchmark rate by 25 basis points to a range of 4.00% to 4.25%, with Fed Chair Jerome Powell describing the move as a "risk-management" step.
Powell indicated further cuts were likely at the October and December meetings. New projections showed two more quarter-point reductions are anticipated at the remaining two policy meetings this year, according to Reuters.
The Hong Kong Monetary Authority followed suit, cutting its base rate by 25 basis points to 4.50%, marking its first reduction this year.
In corporate news, chipmaker Semiconductor Manufacturing International ( SMIC )closed about 3% higher after media reports said China's internet regulator barred major domestic tech firms from purchasing Nvidia's AI chips.
Meanwhile, Dongfang Electricslipped nearly 3% after unveiling plans to raise HK$1.08 billion through a share offering.
Sumber : MT Newswires
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