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China, Hong Kong stocks drop on hawkish US Fed stance

September 21, 2023
Source: devdiscourse.com devdiscourse.com
News Snapshot:
China and Hong Kong stocks slipped on Thursday as risk sentiment took a blow after the U.S. Federal Reserve's hawkish policy statements signalled another rate hike by year-end and much tighter monetary policy through 2024 than previously expected. ** China's blue-chip CSI 300 Index declined 0.61% while the Shanghai Composite Index slid 0.59%. ** Hong Kong's Hang Seng Index fell 1.31%, while the Hang Seng China Enterprises Index dropped 1.38%. ** Asian stocks followed Wall Street's lacklustre lead, dipping across the board as the tough message from the U.S. Fed pressured markets. ** The Fed held interest rates steady on...
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