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Hong Kong Stocks Dip Ahead of Fed Chair's Jackson Hole Speech
22 Aug
Summary
- Hong Kong stocks fell 0.2% as investors await Fed chair's speech
- Tech stocks like Baidu, Xiaomi, Meituan, and ZTO Express declined
- Investors expect a quarter-point rate cut from the Fed next month
On August 22, 2025, Hong Kong stocks experienced a slight decline, with the Hang Seng Index dropping 0.2% to 25,104.61. The Hang Seng Tech Index also slipped 0.8%. This came in the absence of any major catalysts, as investors turned their attention to the upcoming Federal Reserve's annual Jackson Hole symposium.
Several prominent tech companies based in Hong Kong saw their shares fall, including search engine leader Baidu, which slid 2.6% after reporting a significant drop in quarterly revenue. Smartphone and electric vehicle maker Xiaomi dropped 2.3%, while on-demand delivery service Meituan shed 3.1% and logistics firm ZTO Express lost 3.2%.
Investors are eagerly awaiting the keynote speech by Federal Reserve Chair Jerome Powell on Friday, hoping to glean insights into the central bank's plans for interest rate adjustments. The markets have already priced in a quarter-point rate cut in September, and Powell's remarks will be closely watched for any hints on the Fed's future monetary policy decisions.
Despite the overall decline in Hong Kong stocks, some companies managed to buck the trend, with aluminum producer China Hongqiao Group rising 1.7%, digital health services provider JD Health International increasing 1.3%, and clothing manufacturer Shenzhou International strengthening 1.4%.
