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FX.co ★ Hang Seng Slips 1.1% at Finish

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typeContent_19130:::2025-06-18T08:15:32

Hang Seng Slips 1.1% at Finish

On Wednesday, the Hang Seng Index declined by 270 points, or 1.1%, settling at 23,711. This marks the second consecutive session of losses, as optimism for a quick resolution to the ongoing Israel-Iran conflict diminished. Sentiment was further undermined by U.S. President Trump's ultimatum to Iran, insisting on their unconditional surrender. Investors exercised caution ahead of the Federal Reserve's interest rate announcement later in the day. Though the Fed is anticipated to maintain rates steady for the fourth consecutive meeting, attention will be focused on the central bank's "dot plot" to discern whether policymakers still foresee two rate cuts this year. Concurrently, an annual financial forum in China yielded few new policy insights. The market witnessed a broad retreat across all sectors, with significant declines in property, technology, and consumer stocks. Notably, electric vehicle manufacturer Li Auto fell 4.1% after a major shareholder reduced its stake, impacting peers Nio (-2.4%), BYD (-1.3%), and Geely (-1.1%). Perfect Medical Health experienced a steep drop of 19% to hit a five-year low following a disappointing profit forecast for fiscal year 2025. Conversely, Yadea Group saw an increase of 2.6% due to a robust earnings outlook.

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