The Federal Reserve's benchmark interest rate remains at 3.50%-3.75%, and the Stock Connect (for Hong Kong) saw a net outflow of 3.952 billion yuan on Wednesday.
Market Commentary
The Federal Reserve held steady for the third consecutive time, keeping the benchmark interest rate at 3.50%-3.75%. However, the internal division is the largest since 1992, with four voting members casting dissenting votes. The market has abandoned bets on a rate cut within the year. Additionally, there are personnel changes at the Fed. The Senate Banking Committee voted to approve Warsh's nomination as Fed Chair, expected to be formally confirmed in May; Powell will remain as a Governor.
Southbound Stock Connect saw a net outflow of HKD 3.952 billion on Wednesday. Among them, $CCB(00939.HK) recorded the highest inflow, reaching HKD 494 million; followed by CNOOC (00883.HK). $HSCEI ETF(02828.HK) recorded the largest net outflow at HKD 2.274 billion; followed by $TENCENT(00700.HK) .
Source: KGI Securities
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