Hong Kong stocks fall 2% as Fed’s Powell hints at more rate hikes ahead
  • March 8, 2023
  • Team Hongkong Journalist
  • 0

Federal Reserve Chairman Jerome Powell cautioned that the interest rates may need to be higher than expected, and at that particular moment, Hong Kong shares dropped more than 2%, fueling concerns of a potentially larger hike at the next policy meeting.

Country Stocks’ Brief
Hong Kong ●     The Hang Seng index lost 2.53%, led by consumer cyclical, healthcare, and basic materials stocks, leading to losses in the region.

●     Mainland China’s Shanghai Composite dropped 0.5%.

●     The Shenzhen Component traded down 0.4%.

Australia The S&P/ASX 200 was down 0.82% as investors digested Reserve Bank of Australia’s governor Philip Lowe’s speech after the bank’s 25 basis point increase on Tuesday.
South Korea Kospi fell 1.32%
Japan Nikkei 225′s added 0.5% and the Topix inched up 0.3%.


- Published By Team Hongkong Journalist

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