The Economic Times, 14th - The President of the Federal Reserve Bank of New York, Williams, stated that he believes it is more appropriate for the Fed to raise interest rates once more this year, but currently expects no further rate hikes through 2027, and anticipates inflation will slow significantly next year, gradually approaching the Fed's 2% target. U.S. stocks closed broadly lower on Tuesday (13th), with memory chip stocks sold off and mixed earnings results from major banks dragging down the market. The Hang Seng Index opened at 24,282, down 62 points or 0.3%, with main board turnover of HK$1.728 billion. The Hang Seng China Enterprises Index stood at 8,161, down 12 points or 0.2%. The Hang Seng Tech Index was at 4,135, down less than 1 point.

Akeso (09926) initiated a placement of shares, with its share price plunging 6.67% to HK$98, falling below the HK$100 mark. Other biotech stocks were also under pressure, BeiGene (06160) down 1.68% at HK$210.8, WuXi Biologics (02269) down 1.27% at HK$50.6, WuXi AppTec (02359) down 1.25% at HK$204.8.

Hong Kong banks under pressure: HSBC (00005) down 1.19% at HK$148.9, Standard Chartered (02888) down 1.65% at HK$226, Bank of China (Hong Kong) (02388) down 0.77% at HK$51.85.

Tech and internet stocks showed mixed performance: Tencent (00700) completed its bond issuance, pricing two U.S. dollar bonds above 6%, share price opened 0.89% lower at HK$421.4; Alibaba (09988) up 0.93% at HK$108.2; Baidu (09888) down 0.12% at HK$81.55; Xiaomi (01810) down 0.64% at HK$24.88.

Domestic demand stocks edged higher: Tingyi Holding (00322) up 3.32% at HK$12.45; Budweiser APAC (01876) up 1.03% at HK$5.895; Anta Sports (02020) up 0.21% at HK$72.6; at current price, the stock has risen for two consecutive days, gaining 2.11% cumulatively.

Sands China (01928) retreated 1.4% to HK$11.26; Galaxy Entertainment (00027) unchanged at HK$32.74.

Lenovo Group (00992) up 1.8% at HK$31.66. (ey)