US EditionAsian Shares Track Rally on Wall Street that Won Back Most of Friday's Wipeout
HONG KONG, AUG 4 – Hong Kong stocks rose on growing bets the Federal Reserve will cut rates in September, with the probability increasing to 80.8 percent, amid US economic concerns and hopes for China policy easing.
- On Monday, Hong Kong stocks snapped a four-day decline as the Hang Seng Index rose 0.9% to 24,733.45, according to sources.
- Following the Friday jobs data, the US central bank stood pat on rates for a fifth meeting, raising expectations of a September rate cut, said Stephen Innes.
- The Hang Seng Tech Index gained 1.5%, with Tencent Holdings up 2.8% to HK$550 and ICBC adding 1.3% to HK$6.06 as Hong Kong stocks ended a four-day decline on Monday.
- Sentiment improved when according to Stephen Innes, the market now leans more heavily toward a September rate cut.
- Policy uncertainty persists as China’s central bank has refrained from easing this year amid deflation and a property downturn.
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Asian shares track rally on Wall Street that won back most of Friday's wipeout
Asian shares advanced on Tuesday, following U.S. stocks higher after they won back most of their sharp loss from last week.Investors appeared to have recovered some confidence after worries over how President Donald Trump’s tariffs may be punishing the economy sent a shudder through Wall Street last week. At the same time, a stunningly weak U.S. jobs report Friday raised expectations that the Federal Reserve will cut interest rates at its next m…
·Orlando, United States
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Asian markets track Wall St rally on Fed rate cut bets
HONG KONG: Stock markets rose on Tuesday (Aug 5) as investors grow increasingly confident the Federal Reserve will cut interest rates next month, despite concerns about the United States economy and Do
·Singapore
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Coverage Details
Total News Sources50
Leaning Left5Leaning Right5Center15Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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