The HK market consolidated in advance of the Fed meeting dropping 285 to 31,352. There were hopes that the Fed would cut 50 basis points but that proved to be overly optimistic. In any event, the Fed cut was 0.25% to 4.5%, and discount was cut to 5%. The US marklet softened initially but came back with 137 point rise.
Market Indices
Australia All Ordinaries 6779.10 + 0.10%
Bombay Sensex* 19837.99 + 0.28%
Hong Kong Hang Seng 31352.58 - 0.90%
Japan Nikkei 16737.63 + 0.52%
Shanghai Composite 5954.76 + 0.98%
Singapore STI 3805.70 + 0.19%
South Korea Composite 2064.85 + 0.61%
Taiwan Weighted 9711.37 - 0.48%
*Late trading
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