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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 walk during lunch hour in Central, Hong Kong. In the previous Year of the Horse in 2014, MPF members earned 2.2 per cent, while in 2002 they lost 0.4 per cent. Photo: Karma Lo
Banking & finance

Can Hong Kong’s MPF members repeat record gains in Year of the Horse?

Volatility looms in the Year of the Horse, analysts forecast, after the Year of the Snake delivered estimated earnings of US$32 billion.

United States

US inflation cools more than expected, kindling hopes of Fed rate cut

United States

US job market defies Trump policy fears with January growth

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US-China relations

US seeks fair China competition, looks to realign Latin America ties

Scott Bessent says Washington wants to reduce security risks without decoupling from Beijing as it steps up engagement across Latin America.

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Scott Bessent has outlined Washington’s approach to managing economic risks with China while expanding engagement in Latin America. Photo: Getty Images
Banking & finance

Macroscope | Trump-Takaichi meddling in finance spells more turbulence ahead

The two leaders’ moves into economics despite their lack of knowledge threaten to further destabilise global finance and inflate debt levels.

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Donald Trump

Why gold still glitters in Asia despite volatility triggering ‘panic selling’

Investors are also looking to buy more silver despite the recent rush of funds towards the US dollar, analysts say.

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United States

Bitcoin drops, driving US$2 trillion slide in crypto market value

The world’s largest cryptocurrency fell to a low of US$66,675.12, its weakest since October 2024, a month before Trump won the US election.

Bitcoin tumbled below US$70,000 on Thursday as negative momentum deepened across cryptocurrencies. Photo: AFP
Bitcoin

Hong Kong crypto investors stay cautious but upbeat as bitcoin sell-off deepens

Bitcoin’s steep pullback has rattled global crypto markets, but in Hong Kong clearer rules on stablecoins are underpinning confidence.

Banking & finance

‘America First’ Fed? Why China economists doubt Trump’s pick can boost US dollar

Kevin Warsh unlikely to deliver long-term rebound while central bank independence still at risk, analysts say.

Japan

Macroscope | Could Japan stop being the ballast of the bond market?

A lower house election victory would give flight to Prime Minister Takaichi’s fiscal expansionism – and introduce upheaval far beyond Japan.

Japan’s 10-year government bond yield, seen on a screen outside a brokerage in Tokyo on January 21, touched its highest in a century this month. Photo: Reuters
United States

Trump picks former Federal Reserve official Kevin Warsh to chair US central bank

The nomination comes as economic issues – from tariffs to affordability – dominate the policy agenda ahead of the November midterm elections.

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Kevin Warsh is a former governor of the Federal Reserve Board. Photo: AP
Central banks

Before Trump’s Fed pick, a new clear favourite emerges for chair

Betting markets show shiny odds for a former governor, with a prominent asset manager trailing a distant second as the announcement looms.

Commodities

Runaway gold: why even Wall Street can’t keep up with the metal’s record ascent

Some Chinese funds halt subscriptions as uncertainty fuels volatility in the metals market, while Hong Kong’s first gold exchange-traded fund surges on its debut.

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Interest rates

HKMA warns of risks as Hong Kong follows Fed in keeping interest rate unchanged

Analysts see the first US rate cut in June, with a falling Hong Kong interbank rate set to bring relief to borrowers.

The Hong Kong Monetary Authority kept its base rate unchanged at 4 per cent on Thursday. Photo: Jonathan Wong
United States

US Federal Reserve holds interest rates steady, defying Trump pressure

The US president had been pushing for cuts at the central bank’s first policy gathering this year.

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A view of the US Federal Reserve building in Washington on Monday. Photo: AFP
United States

S&P 500 hits 7,000 for first time amid AI boom and rate cut hopes

AI and Big Tech earnings propel the surge, as rate cut expectations boost market confidence despite earlier jitters.

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Banking & finance

Trump says the US dollar can move like a yo-yo. Will Treasuries be left hanging?

With the US president levelling threats at enemies, allies and his own central bank, alternatives like gold and Chinese assets are gaining appeal.

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Commodities

Gold surge has analysts eyeing new highs after US$5,100 record

Safe-haven demand spikes amid de-dollarisation fears and supply-chain tensions, as gold buyers seek stability against growing macro uncertainties.

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Analysts expect the price of gold to continue climbing this year, building on a safe-haven surge. Photo: AFP
Hong Kong Monetary Authority (HKMA)

How lower US interest rates can help Hongkongers amid steady local prime rates

Most new mortgages, many corporate loans are based on interbank rates, which will continue to fall, monetary authority’s deputy chief says.

US-China trade war

At America’s biggest retail show, the China question never really goes away

Tariffs may ebb and supply chains may detour, but US shoppers – and giants like Walmart and Amazon – still rely heavily on Chinese goods.

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US-China trade war

‘Not sustainable’: China central bank adviser flags US debt risk

As concerns mount over America’s ballooning debt, one of Beijing’s economic advisers warns fiscal discipline may not be on cards.

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China has now reduced its holdings of US debt to the lowest level since 2008. Photo: Shutterstock
US-China relations

China dumps more US debt, buys other assets as Trump targets Powell

Beijing’s Treasury holdings hit a September 2008 low, and analysts point to fears over Fed independence and debt sustainability, while gold’s appeal rises.

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China trimmed its holdings of US Treasuries in November to the lowest level since 2008. Image: Shutterstock
United States

Macroscope | Investors are giving Trump a free pass

Markets, especially bond markets, are meant to be a disciplining force. Their inaction will only embolden Trump to act more recklessly.

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New Zealand

New Zealand central bank chief scolded for poking nose in Trump-Fed feud

Foreign Affairs Minister Winston Peters reminded Anna Breman to ‘stick to domestic monetary policy’.

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China stock market

UBS projects rosy view of Chinese stocks in 2026 as investors diversify holdings

‘Chinese assets’ appeal will further increase this year because of a sharpened focus on diversified investments,’ UBS’ Thomas Fang says.

A Chinese trader looks at an electronic trading board at the Shanghai stock exchange. Photo: Reuters
Yuan

China’s PBOC sets onshore yuan fixing at strongest point in nearly 16 months

Analysts note how Beijing’s policy goals, such as internationalising China’s currency and curbing overcapacity, are aligning with a firmer exchange rate.

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The People’s Bank of China set the yuan’s midpoint rate, also known as the daily fixing rate, at 7.0103 to the US dollar on Tuesday. Photo: dpa
Hong Kong stock market

Hong Kong stocks climb as yuan strengthens and investors broaden focus beyond US

Hang Seng Index advances as investors shift focus, boosting Asian equities, with pharmaceutical and healthcare shares leading gainers.

Hong Kong property

Hong Kong’s housing market gets a vote of confidence from major banks

Most financial institutions forecast price gains ranging from 5 to 10 per cent, supported by supply constraints and end-user demand.

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