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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.
US President Donald ‍Trump has renewed his ​threat ⁠to bring a lawsuit against Federal Reserve Chair Jerome Powell. Photo: Reuters
Donald Trump

Trump says preferred Fed pick is ready, again teases firing Powell

US president urges Jerome Powell to resign as he considers a ‘gross incompetence’ lawsuit against the Fed leader.

Hong Kong property

Hong Kong primary home sales to see decade high as small flats perk up market

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China stock market

Chinese ETFs investing in US stocks cap subscriptions as they run out of quotas

US-China relations

China cuts US Treasury holdings to lowest level since 2008

The stockpile has now fallen to nearly half its November 2013 peak, financial data shows, as long-term sell-off continues.

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China is now in third place among foreign US Treasury holders, behind Japan and the United Kingdom. Photo: dpa
Hong Kong stock market

Hong Kong stocks slump to 3-week low as China growth jitters dampen sentiment

Caution prevails as investors weigh China’s growth prospects after key economic data showed a deceleration across the board.

Banking & finance

Editorial | Hong Kong must find new growth areas amid uncertain US monetary policy

Divisive US Federal Reserve interest rate cut underscores why the city should not look too much to American interest rate cuts to bolster the economy.

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Cryptocurrency

Bitcoin drops below US$90,000 as AI worries sour risk appetite

The fall signals renewed market jitters after the historic crypto crash in October.

Standard Chartered slashes expectations that bitcoin would hit US$200,000 by the end of 2025, lowering its forecast to US$100,000. Photo: Shutterstock
United States

US Fed delivers quarter-point rate cut as policymakers weigh inflation outlook

Move falls short of Trump’s demands as debate over Fed independence intensifies and markets brace for global spillover effects.

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Banking & finance

Macroscope | Inflated asset prices show markets don’t always know best

With hyperinflated sectors across multiple asset markets, the next crash could be so severe that it prompts a restructuring of global finance.

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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.

People’s Bank of China governor Pan Gongsheng has said that monetary policy must balance internal and external pressures. Photo: Getty Images
Commodities

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

White metal doubles in value this year to reach record high, outshining gold’s 60 per cent rise.

Silver, like gold, has been boosted by increased expectations that the US Federal Reserve will cut interest rates this month. Photo: May Tse
Banking & finance

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

Several banks project gold prices could rise above US$4,900 per ounce in 2026, with US rate cuts and central bank buys keeping demand strong.

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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.

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.

China’s central bank has set the yuan’s daily reference rate against the US dollar at the strongest level in more than a year. Photo: Reuters
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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US Treasury Secretary Scott Bessent speaks to the media, following trade talks between the US and China, in Kuala Lumpur, Malaysia on October 26. Photo: Reuters
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.

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.

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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.

Traders work on the floor at the New York Stock Exchange on Thursday. Photo: Reuters
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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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.

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.

A board at the New York Stock Exchange displays the Dow Jones industrial average on Tuesday. Photo: AP
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.

The Japanese yen’s exchange rate briefly weakened beyond 155.3 to the US dollar on Tuesday. Photo: Reuters
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.

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.

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.

Potential homebuyers are seen at the Tsim Sha Tsui showroom of The Reserve at Gold Coast Bay in Tuen Mun. Photo: Dickson Lee
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.

A photo collage of global currencies with the US dollar in the centre. Photo: Agence-France Presse
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.

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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