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US Federal Reserve

US Federal Reserve
Founded in 1913, the Federal Reserve is the central banking system for the United States.
The outlook for gold marks a significant retreat from the bullishness seen at the start of the year. Photo: dpa
Gold in Hong Kong

Why Fed moves trump geopolitical risks, China gold buying in analysts’ forecasts

Bullion forecasts have softened, LBMA’s survey shows, despite the World Gold Council reporting unprecedented demand in second quarter.

China stock market

Gold breakout rally sends Chinese bullion stocks near record highs

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Donald Trump

Trump renews effort to fire Fed’s Lisa Cook despite Supreme Court ruling

United States

US unexpectedly loses jobs in July, in blow to Trump’s economy claims

This reflects potential weakness in the labour market of the world’s largest economy after months of steady growth.

A hiring sign for sales professionals is displayed at a store, in Vernon Hills, Illinois state in the US in April. Photo: AP
Banking & finance

Hong Kong raises Silver Bonds coupon rate to 4.25% for latest batch

The city plans to issue up to HK$50 billion of Silver Bonds next month, with the higher rate intended to pre-empt a rise in US interest rates.

Japan

US-Japan trade thaw driven by shared yen for stronger currency

How long this boost in relations will last, though, depends on whether the yen can hold its value, experts say.

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China stock market

China’s AI rout triggers 14% margin retreat in record tech sell-off

Tech stocks plummeted in July as traders unwound leveraged positions, sparking a drop in margin financing and raising concerns in Beijing.

An investor walks by an electronic board displaying stock prices at a brokerage house in Beijing. China's stock traders unwound their leveraged positions in July, fuelling a brutal technology stock sell-off. Photo: AP
Banking & finance

Rare US-Japan intervention as yen hits 40-year low: what does it mean?

Washington steps in to save Tokyo’s weakened currency in first joint yen-buying action for almost 30 years, causing its value to surge.

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Yuan

China’s offshore yuan hits 3-year high as Beijing signals policy support

Politburo’s pledge to stabilise growth and boost capital markets helps drive rally, reinforced by days of relatively strong reference rates by the central bank.

United States

US economic growth slows in second quarter but domestic demand robust

Despite the Middle East conflict, US consumer spending has ‌remained resilient, in part thanks to bigger tax refunds this year.

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People shop for groceries at a store in Los Angeles, California in 2025. Consumer spending accounts for more than two-thirds of US economic activity. Photo: EPA
US-listed Chinese stocks

Fed uncertainty, AI doubts: the twist benefiting US-listed Chinese stocks

Chinese shares trading overseas are being cast as defensive plays as Fed path confusion shifts money away from US equities and bonds.

The Nasdaq Golden Dragon China Index of the biggest Chinese companies listed in the US has risen 1.7 per cent after the Fed’s July rate-decision meeting. Photo: Reuters
IPO

AI stock rout fells Innolight after mega Hong Kong IPO

Nvidia supplier Innolight declines on its Hong Kong trading debut as once AI-hungry investors turn increasingly nervous about sector’s huge spending plans.

Banking & finance

HKMA warns of interest-rate risk as traders bet on September rate rise

HSBC, Standard Chartered, Bank of China (Hong Kong) keep their prime and savings rates unchanged, mirroring HKMA’s decision to hold steady.

United States

US Fed holds interest rates steady despite Warsh’s inflation vow

The decision drew dissents from three policymakers on the 12-member panel, as Trump’s Iran war continues to push up prices.

US Federal Reserve Chairman Kevin Warsh in Washington in June. Photo: Reuters
Hong Kong stock market

Hong Kong investors hunker down for Fed decision, jumbo IPO

Both a US Fed rate policy meeting and the largest initial public offering in Hong Kong in seven years will occur on Thursday.

The Hong Kong skyline on July 1. Photo: EPA
US, Israel war on Iran

Iran halts strikes as Trump gives space to talks

The calmer situation eased worries about a resurgence in inflation and a fresh round of interest rate hikes.

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Banking & finance

US 30-year Treasury streak: what do 5% yields mean for global investors?

The historic run is forcing investors to ask whether high borrowing costs are a short-term headache or the new normal.

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Hong Kong property

Hong Kong homebuyers snap up 138 Garden Regency flats in New Territories

Top developer clears all units in weekend launch after offering a maximum 16 per cent discount.

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Potential buyers and estate agents line up at the sales office of SHKP’s Garden Regency at the International Commerce Centre. Photo: SCMP/Edmond So
Interest rates

Macroscope | Silence isn’t golden for a world looking to Kevin Warsh’s Fed

While forward guidance often proved counterproductive, it is the US central bank’s job to inform markets about the outlook for monetary policy, not the other way round.

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US-China relations

Ex-US Fed adviser gets 3 years in prison in China secrets case

John Harold Rogers was convicted of lying to investigators looking into whether he shared confidential data with Chinese operatives.

Banking & finance

China increases holdings of US Treasuries despite diversification trend

Overall foreign holdings climb to US$9.371 trillion in May, with China’s rising to US$659.3 billion after hitting an 18-year low in April.

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US Federal Reserve chairman Kevin Warsh addresses a news conference after last month’s Federal Open Market Committee meeting in Washington. Photo: Reuters
United States

US inflation cools on brief ceasefire but Fed keeps rate hike option

New Fed Chair Kevin Warsh tells lawmakers the US central bank has ‘no tolerance for persistently elevated inflation’.

Federal Reserve Chairman Kevin Warsh testifies before the House Financial Services Committee on Tuesday. Photo: AFP
Global monetary policy

Amid rising dollar risks, Plaza Accord-style unity not feasible: ex-IMF adviser

Economic historian Barry Eichengreen says if current policy paths persist, modern rifts could bring about a confidence crisis in the US currency.

Hong Kong property

‘Good time to enter market’: rebates rise as Hong Kong property demand recovers

Mortgage battle intensifies as lenders raise cash rebates to lure buyers amid Fed rate uncertainty.

Hong Kong stock market

China’s appeal as portfolio diversifier grows: BlackRock strategist

‘China can provide exposure to different economic drivers,’ says Li Wei, the asset manager’s global chief investment strategist.

People walk on a street beneath a screen showing stock market and economic data in Shanghai on June 15. Photo: EPA
China deflation

China’s central bank vows flexibility amid uneven economic picture

PBOC pledges ‘moderately loose’ monetary policy given a ‘more complex and volatile’ environment and domestic ‘structural divergence’.

A readout from the People’s Bank of China's monetary policy committee meeting made no explicit reference to cutting reserve requirement ratios or policy interest rates. Photo: Reuters
Japan

As Japanese yen sinks to a 40-year low, focus turns to the carry trade

Analysts ponder what will happen if the conditions which currently support the currency’s carry trade begin to reverse.

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Hong Kong property

When will Hong Kong’s retail leasing market see a turnaround?

Analysts say that geopolitical tensions, Beijing’s measures against capital flight and potential rate hikes are adding to uncertainties.

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