Hang Seng Rises Ahead of Fed, AI and Property Stocks Boost Sentiment
The Hang Seng Index rose 157 points, or 0.6%, to close at 26,025 on Wednesday (March 18), reversing morning losses and extending the previous session's gains. The gains were driven by gains in most sectors as sentiment improved following a surge in US stock futures ahead of the Federal Reserve's interest rate decision and the release of its first projections for 2026.
While the benchmark interest rate is expected to remain unchanged, the market is monitoring signals regarding future policy direction, including speculation about whether Jerome Powell will remain on the board after his term as chairman ends in May. In China, stock movements were limited ahead of the People's Bank of China's lending rate review on Friday, maintaining focus on domestic policy support.
Risk appetite was also boosted by reports that Nvidia received approval to sell advanced AI chips in mainland China. Meanwhile, Cathay Pacific announced it was extending its suspension of flights to the Middle East until April 30, underscoring the continued impact of geopolitical uncertainty on the transportation sector.
In stocks, gains were led by Minimax Group (+19.4%) and Knowledge Atlas (+18.6%), followed by CK Hutchison (+2.9%), Henderson Land Development (+2.5%), and AIA Group (+1.6%). Geely Auto fell 3.2% after reporting flat annual profits despite stronger sales and margins, triggering selective action in automotive stocks. (alg)
Source: Newsmaker.id
