Hang Seng Closes Higher After Early Losses The Hang Seng Index ended the trading session higher on Wednesday, recovering from early losses and extending gains from the previous day. The index rose 157 points, or 0.6%, to close at 26,025. Most sectors contributed to the upward movement, with sentiment improving as U.S. futures surged ahead of the Federal Reserve’s rate decision and its first 2026 policy projections. While markets anticipate the policy rate to remain unchanged, attention is focused on potential signals about Jerome Powell’s future role, as his term as chair concludes in May. In China, stock markets showed slight gains ahead of the People’s Bank of China’s (PBoC) planned lending rate review on Friday. Risk appetite was further boosted by news that Nvidia has received approval to export advanced AI chips to the mainland, which could enhance demand for technology stocks. Meanwhile, Cathay Pacific announced it would continue suspending Middle East flights until April 30, reflecting ongoing operational adjustments. The day’s top performers included Minimax Group, which surged 19.4%, followed by Knowledge Atlas with an 18.6% increase. CK Hutchison, Henderson Land Development, and AIA Group also saw significant gains, rising 2.9%, 2.5%, and 1.6%, respectively. In contrast, Geely Auto declined 3.2% after reporting flat annual profits despite recording higher sales and improved margins. The market’s positive momentum appears to be driven by a combination of factors, including optimism about global economic conditions, expectations for central bank policy guidance, and developments in key sectors such as technology and aviation. However, investors remain cautious, with the Fed’s upcoming decisions and China’s monetary policy outlook serving as critical watchpoints for the near term.#federal_reserve #jerome_powell #people_s_bank_of_china #hang_seng_index #cathay_pacific
Global Commodity Markets React to Geopolitical Tensions and Economic Data Zinc prices traded within a range of 322.4 to 328.4 during the day, according to Kedia Advisory. Meanwhile, gold prices declined in the previous session, ending at 161,789, a 0.93% drop. The U.S. Dollar Index strengthened, hovering near its highest levels since tensions between the United States and Iran escalated earlier this month. The dollar's rise reduced the appeal of gold, as investors remained cautious ahead of the upcoming U.S. Federal Reserve policy meeting. Inflation in the U.S. remained stable, with consumer prices rising 2.4% year-on-year in February. Core inflation, which excludes food and energy, stood at 2.5%, the lowest level since March 2021. Despite moderating inflation, markets expect the Fed to keep interest rates unchanged, with traders anticipating only one potential 25 basis point rate cut, possibly in September. China continued to support the global gold market, with the People's Bank of China extending its gold-buying streak for a 16th consecutive month. Total holdings reached 74.22 million troy ounces by the end of February. China’s net gold imports through Hong Kong surged by 68.7% month-on-month in January, reflecting strong investment demand. Technically, the market saw long liquidation, with open interest declining 0.71% to 7,552 while prices dropped by Rs1,514. Gold’s immediate support is at 160,960, with a break below potentially testing 160,135. Resistance is seen at 162,880, and a move above could push prices toward 163,975. Silver prices fell sharply, ending at 268,491, a 3.37% decline. The U.S. Dollar Index regained strength as investors assessed ongoing geopolitical tensions and fresh U.S. inflation data.#pentagon #strait_of_hormuz #hsbc #u_s_federal_reserve #people_s_bank_of_china
