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09-17

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Hong Kong Stocks Soar Ahead of Expected Fed Rate Cut; Midea Surges 9% on Debut

Hong Kong stocks jumped to a two-week high as local developers rallied ahead of an expected rate cut from the Federal Reserve, as appliance maker Midea Group surged on its trading debut.Midea shares rose 8.85 per cent to HK$59.65 in their Hong Kong trading debut. It was the city’s largest initial public offering in more than three years.The Hang Seng Index added 1 per cent to 17,615.93 as of 10.38am local time, its highest level since September 3, while the Tech Index gained 0.65 per cent. Main

Hong Kong Stocks Soar Ahead of Expected Fed Rate Cut; Midea Surges 9% on Debut

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