Economic Information Daily, Nov 14 - Hong Kong banking stocks were weak, with BEA (00023) down 2.5% at HK$18.06, BOC Hong Kong (02388) down 2.1% at HK$51.15, Standard Chartered (02888) down 1.7% at HK$225.8, and HSBC (00005) down 0.8% at HK$149.5.
John Williams, President of the New York Federal Reserve and the third-highest official at the Federal Reserve, said he believes it is more appropriate for the Fed to raise interest rates once more this year, but currently expects no further rate hikes will be needed through 2027, and anticipates inflation will slow significantly next year, gradually approaching the Fed's 2% target.
Additionally, Federal Reserve Governor Waller stated that the recent rise in U.S. Treasury yields mainly reflects strong economic growth, not rising inflation expectations, emphasizing that inflation expectations remain firmly anchored. Chicago Fed President Austan Goolsbee warned that inflationary pressures from the AI investment boom are spreading beyond the tech sector, and the U.S. economy may be shifting from price increases caused by supply shocks to overheating in aggregate demand, increasing pressure on the Fed to tighten monetary policy.
Currently, the Hang Seng Index stands at 24,462, up 116 points or 0.5%, with turnover on the main board exceeding HK$99.3 billion. The Hang Seng China Enterprises Index is at 8,222, up 47 points or 0.6%. The Hang Seng Tech Index is at 4,219, up 82 points or 2%. (nw)
John Williams, President of the New York Federal Reserve and the third-highest official at the Federal Reserve, said he believes it is more appropriate for the Fed to raise interest rates once more this year, but currently expects no further rate hikes will be needed through 2027, and anticipates inflation will slow significantly next year, gradually approaching the Fed's 2% target.
Additionally, Federal Reserve Governor Waller stated that the recent rise in U.S. Treasury yields mainly reflects strong economic growth, not rising inflation expectations, emphasizing that inflation expectations remain firmly anchored. Chicago Fed President Austan Goolsbee warned that inflationary pressures from the AI investment boom are spreading beyond the tech sector, and the U.S. economy may be shifting from price increases caused by supply shocks to overheating in aggregate demand, increasing pressure on the Fed to tighten monetary policy.
Currently, the Hang Seng Index stands at 24,462, up 116 points or 0.5%, with turnover on the main board exceeding HK$99.3 billion. The Hang Seng China Enterprises Index is at 8,222, up 47 points or 0.6%. The Hang Seng Tech Index is at 4,219, up 82 points or 2%. (nw)
