GO
| HSI1 | 24,963.23 | 0.00 | -- |
| HSCEI1 | 8,271.06 | 0.00 | -- |
| Back Zoom + Zoom - Block Traded | |
|
Rising Expectations for Sep Rate Hike Lift HK Banks; BOC HONG KONG Surges 4% to Break Above HKD50 for First Time; BANK OF E ASIA and Dah Sing Series Leap 6-8%
2026-07-24 11:04:56 Escalating tensions in the Middle East have shored up oil prices and fueled inflation concerns, leading to renewed expectations for further US interest rate hikes this year. CME FedWatch data showed the market is betting on around an 80% chance of a Fed rate hike in September, up from 68% on Wednesday (22nd). Jim Wyckoff, analyst at the American Gold Exchange (AGE), said the market has already betted on no rate hike at next week's Fed meeting, but the tone may remain hawkish. However, if the Fed unexpectedly adopts an extremely hawkish or extremely dovish stance next week, the market is likely to react. Hit by soaring tariffs and oil prices, Hong Kong stocks waned this morning (24th). The HSI last stood at 24,877, down 333 points or 1.3%, with turnover of HKD87.7 billion. As expectations for rate hikes intensify, banks' NIM is expected to ascend, driving Hong Kong bank stocks higher against the broader market trend. BOC HONG KONG (02388.HK) opened 1.3% higher this morning (24th) and extended gains in early trading, breaking above the HKD50 mark for the first time in history. The stock peaked at HKD50.55, setting a record high. It last reported at HKD50.4, up 4.22%, with trading volume of 15.1603 million shares and turnover of HKD760 million. JPMorgan upgraded BOC HONG KONG to Overweight and raised its TP to HKD53.3. BANK OF E ASIA (00023.HK) last traded at HKD15, up 6.46%, with turnover of HKD27.3889 million. DAHSING BANKING (02356.HK) last quoted at HKD13.91, up 7.33%, with turnover of HKD58.704 million. DAH SING (00440.HK) leaped 8.3% to HKD46.72, hitting its highest level in nearly eight years since October 2018, with turnover of HKD54.7 million. International banks softened. HSBC HOLDINGS (00005.HK) retreated from its historical high and last traded at HKD159.6, down 1.18%, with turnover of HKD605 million. STANCHART (02888.HK) last stood at HKD222, down 2.03%, with turnover of HKD39.1656 million. ~ AASTOCKS Financial News Website: www.aastocks.com | |