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US Federal Reserve

US Federal Reserve
Founded in 1913, the Federal Reserve is the central banking system for the United States.
People’s Bank of China governor Pan Gongsheng has said that monetary policy must balance internal and external pressures. Photo: Getty Images
China trade

‘Strong breakwaters’: China’s central bank vows to shield from external shocks

Governor Pan Gongsheng says policy must prioritise the domestic economy, warning against ‘excessive policy swings’ that could undermine long-term stability.

Commodities

Silver surge outpaces gold on global squeeze, rising interest rate-cut hopes

Banking & finance

Gold prices could hit record highs of over US$4,900 next year: forecasts

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Banking & finance

Hong Kong retail funds hit record pace, surpass 2024 full-year total

Gross sales reach US$82.6 billion in the first three quarters as investors pile into fixed-income funds: HKIFA.

There is renewed investor confidence in Hong Kong’s retail fund market, analysts say. Photo: Dickson Lee
Yuan

China sets strongest yuan fix in over a year as Fed-cut bets rise

China’s currency is outperforming the euro and yen despite economic headwinds, with analysts pointing to Beijing’s geopolitical leverage as the driver.

United States

Trump eyes Christmas deadline to name new Fed chair: Bessent

The US treasury secretary says simplifying the Fed is key, as he conducts interviews with the five candidates to succeed Chair Jerome Powell.

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Banking & finance

Yuan’s long-term hedge costs equalise for first time since 2011

The risk reversal as the yuan has fared better than expected this year and as investors brace for a weaker dollar on Fed rate cut prospects.

The offshore yuan has strengthened 3.4 per cent against the dollar this year. Photo: Getty Images
Cryptocurrency

Cryptocurrency market extends slide as bitcoin falls below US$86,000

The slump has options traders eyeing the US$85,000 threshold for market bellwether bitcoin.

Hong Kong stock market

Hang Seng Index sinks 2.4% to cap worst week since April on AI bubble fears

Hong Kong stock benchmark’s loss of 5.1 per cent for the five-day period is the most since April 11.

Diplomacy

Opinion | As power balance tips to China, world needs a fairer financial system

China-led macro region will have to work on independence of monetary policy and partnerships in a fairer financial and trade framework.

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Illustration: Craig Stephens
Banking & finance

China’s US Treasury holdings edge up as long-term sell-off continues

The slight uptick in August and September comes as concerns mount over US debt and the White House tests the Federal Reserve’s independence.

Yuan banknote on Chinese flags and US dollar banknote on US flags. Photo: Getty Images/iStockphoto
Hong Kong stock market

Hong Kong stocks fall for fourth day on AI valuations, uncertain Fed policy path

Wall Street sell-off hits Magnificent Seven, while chances of a December Fed rate cut fall below 50 per cent.

Japan

Japanese yen weakens to 9‑month low, hits 155 to US dollar amid uncertainties

Stocks and bond market slump as investors fret over expansionary fiscal plans, fading US rate-cut bets, and a China-Japan diplomatic row.

Hong Kong stock market

Hong Kong stock decline deepens on AI valuation concerns, Fed rate outlook

The Hong Kong stock benchmark’s 1.7 per cent slump on Tuesday was its biggest since October 31.

A file photo from May 20, 2025, shows the Hang Seng Index at the Hong Kong stock exchange. Photo: Reuters
Hong Kong stock market

Hong Kong stocks fall as US data delay, Fed policy uncertainty hit sentiment

The US government will release nonfarm payrolls for September on Thursday, the first data since the 43-day shutdown.

Pedestrians walk in front of an electronic sign board showing Hong Kong stock market data. Photo: AFP
Hong Kong property

Hong Kong sees lacklustre weekend property sales at Tuen Mun development

The Reserve at Gold Coast Bay sells only 14 flats of the 152 units on offer as of 6.30pm.

Currencies

Dollar carry trade defies ‘Sell America’ woes, trounces world’s stocks

A Bloomberg gauge of the US dollar bounced back around 3 per cent from a September low, in part because of the so-called carry trade.

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Hong Kong stock market

Hong Kong stocks fall for a second day as AI bubble fears hit Wall Street

Losses mirror Wall Street after Palantir Technologies tumbled 8 per cent despite beating revenue estimates.

Hong Kong stocks fell on Wednesday amid fears of an AI bubble. Photo: Shutterstock
Yuan

As China holds the line in ‘trade war 2.0’, its yuan follows suit

With minimal depreciation and more frequent use overseas, the yuan has shown greater resilience in this round of the US trade conflict.

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US-China trade war

US government shutdown hinders key data insights, impact of Trump’s tariffs

Fed Governor Lisa Cook warns lack of government data has challenged the US central bank’s ability to assess current economic climate.

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Hong Kong property

Hong Kong property deals rise to 3-month high as buyers benefit from rate cut

October marks the third straight month of gains in the sector, strengthening the outlook for a sustained market recovery.

Homebuyers on Sunday stand in line at the sales office of Wheelock Properties’ Spring Garden residential project in Wan Chai. Photo: Jonathan Wong
Hong Kong stock market

Hong Kong stocks edge lower as investors weigh AI-driven gains

Investors sway between optimism that massive AI investments will sustain earnings and concerns about whether elevated valuations will hold.

The lofty valuation of Palantir is worrying investors. Photo: Reuters
United States

Editorial | Cheaper Chinese goods will aid Trump’s push to lower interest rates

The US-China deal will bring some relief to US inflationary pressure, strengthening the American president’s case for the Fed to further ease rates.

Hong Kong economy

Hong Kong finance chief Paul Chan says economy ‘doing OK’ as GDP rises by 3.8%

Financial Secretary Paul Chan welcomes move to cut interest rate to 4.25 per cent, saying it will ease pressure on residents and businesses.

United States

US Fed lowers key rate, but Powell says December cut not guaranteed

The central bank’s second consecutive quarter-point cut seeks to bolster the flagging US labour market.

US Federal Reserve Chair Jerome Powell holds a press conference in Washington after the Fed cut interest rates by quarter of a percentage point on Wednesday. Photo: Reuters
Jobs

Global companies ratchet up job cuts amid weak sentiment, AI push

The occupations most likely to be affected would be where entry-level work is replaced with automation, Bank of America economists say.

US Federal Reserve officials worry that the current “low-hiring, low-firing” environment could slip towards faster lay-offs. Photo: Shutterstock
Hong Kong property

Hong Kong home prices post year’s biggest gain as rents climb to near peak

Boosted by a resurgent stock market and favourable interest rates, lived-in home prices rise to their highest in more than a year.

Hong Kong stock market

JPMorgan sees Hong Kong stock rally extending to 2026, but cautions on headwinds

The MSCI Hong Kong Index, which is up 26 per cent this year, is likely to gain 8 to 25 per cent from current levels in 2026, the bank says.

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