FX.co ★ Hong Kong Stocks Steady Ahead of Fed Decision

The Hang Seng Index was little changed around 24,601 on Wednesday, as investors stayed cautious ahead of the Federal Reserve’s policy decision later in the day. Sentiment was pressured by elevated US Treasury yields, with the 10-year yield having briefly moved above 5% in the prior session, while a stronger US dollar also weighed on Asian risk assets. Oil prices remained high after a sharp rise in the previous session amid concerns over possible disruptions to Saudi crude shipments. In this context, gains in selected technology stocks were not enough to offset broader market weakness, leaving the index slightly lower. Among individual names, Tencent Holdings was in focus after ByteDance rolled out a major update to its Feishu workplace platform, embedding AI agents more deeply into the service and intensifying competition in enterprise AI. Other notable decliners included Xiaomi (-1.5%), Kuaishou (-1.7%) and Akeso (-3.9%), while Z.AI (+4.8%) and MiniMax (+4.9%) advanced.