Hong Kong Stocks gain on improving sentiment

Risk appetite buying in the local market today bolstered as signs of progress between the world’s two biggest economies and dovish commentary from the Fed help lift sentiment. Fed Chairman Jerome Powell reiterated on Thursday the U.S. central bank has the ability to be patient on monetary policy given that inflation remains stable. Fed Vice Chair Richard Clarida also struck a dovish tone, further cementing the central bank’s willingness to remain patient on the issue of raising rates. Minutes from the Federal Reserve’s Dec. 18-19 meeting showed several policymakers were in favor of keeping rates steady this year. On Thursday, Fed officials echoed the minutes’ cautious stance. St. Louis Fed President James Bullard, a voter on the Federal Open Market Committee this year, said the U.S. central bank’s policy stance may be too hawkish and it should listen to market signals and stop raising interest rates. Charles Evans, president of the Federal Reserve Bank of Chicago, another FOMC voterRisk appetite buying in the local market today bolstered as signs of progress between the world’s two biggest economies and dovish commentary from the Fed help lift sentiment. Fed Chairman Jerome Powell reiterated on Thursday the U.S. central bank has the ability to be patient on monetary policy given that inflation remains stable. Fed Vice Chair Richard Clarida also struck a dovish tone, further cementing the central bank’s willingness to remain patient on the issue of raising rates. Minutes from the Federal Reserve’s Dec. 18-19 meeting showed several policymakers were in favor of keeping rates steady this year. On Thursday, Fed officials echoed the minutes’ cautious stance. St. Louis Fed President James Bullard, a voter on the Federal Open Market Committee this year, said the U.S. central bank’s policy stance may be too hawkish and it should listen to market signals and stop raising interest rates. Charles Evans, president of the Federal Reserve Bank of Chicago, another FOMC voter […]
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