Hong Kong Stocks End Flat Ahead of US Fed Meeting; XPeng Slides 6%

MT Newswires Live

03-19

Hong Kong stocks ended fractionally higher on Wednesday as investor sentiment became cautious ahead of a meeting of the US Federal Reserve.

The Hang Seng Index closed little changed at 24,771.14. The Hang Seng China Enterprises Index ended fractionally lower at 9,163.67.

All eyes are on a meeting of the Federal Reserve, with expectations that the US central bank will keep its benchmark borrowing cost unchanged, the SCMP reported.

Sentiment also took cues from US stocks losing steam overnight amid uncertainty regarding US President Donald Trump's tariff policies against a number of countries.

Most recently, on Tuesday, Trump threatened to accelerate his efforts to impose additional duties on Canada, according to a report by CNN.

Investors are anticipating the Fed's analysis of the impact of Trump's tariff chaos on the global economy.

In corporate news, electric vehicle maker XPeng (HKG:9868) fell 6% despite narrowing its attributable loss for the year 2024 to 5.79 billion yuan.

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