INVESTMENT DAILY

Hong Kong market snapped loses and rebounded on Wednesday. Media said thatPeople’s Bank of China would provide SFL for big five banks in China to injectliquidity to the market. HSI once surged 334 points and narrowed gains then. HSIrallied 240 points to close at 24,376. HSCEI also advanced 175 points to close at10,893. Market turnover posted HK$77bn. Chinese share gained momentum, whileMacau gaming stocks further dropped.

    The Federal Reserve after-meeting announcement said that it will keep short-terminterest rates near zero for a “considerable time” after the central bank endslarge-scale purchases of bonds. However, the Federal Reserves has revised upwardtheir interest rate forecast in the coming three years. US stock market finishedhigher on Wednesday after volatile trading throughout the day. The Dow and theNasdaq closed 25 points (to 17,157) and 9 points (to 4,562) higher respectively.

    Besides, US Dollar continued its recent strength with Dollar index moved to near its4 year high.

    People Bank of China injected new funds into A share market, but market response isnot strong, A share market seems at short term consolidation. On the other hand, USdollar rose further after FOMC meeting, HK stock is likely to be volatile in the nearterm.