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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.
Twelve Peaks at 12 Mount Kellett Road has been developed by Sun Hung Kai Properties. Photo: Xiaomei Chen
Hong Kong property

Indebted owner’s luxury property on The Peak on sale at 30% discount

A mansion in Twelve Peaks at 12 Mount Kellett Road is on sale for HK$330 million (US$42 million), down from HK$450 million six years ago.

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Yuan

China’s yuan fixing rate hits 2-month high as US dollar drops

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Commodities

Crypto can’t chip away at gold’s safe-haven shield: gold researcher

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Hong Kong property

Hong Kong’s real estate market cooled in May, with deals slumping to 3-month low

Transactions fall 11 per cent from a month earlier to 6,442, while value eases 0.5 per cent to US$6.3 billion, according to Land Registry.

Secondary-home transactions in Hong Kong reached 3,244 units worth HK$23.77 billion in May. Photo: Eugene Lee
Donald Trump

Trump meets Fed chief Powell, steps up call for US rate cuts

The president said in the meeting that keeping rates high was putting the US at an economic disadvantage to other countries, including China.

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Banking & finance

The View | What Asian currency rallies mean for the region’s property markets

While currency appreciation may provide relief for property investors, economies reliant on trade and tourism should proceed with caution.

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Donald Trump

Trump says China and Walmart should ‘eat the tariffs’, not raise prices

The US president lashed out at the retail giant after it warned that everything from bananas to child car seats could get more expensive.

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US President Donald Trump listens to questions as he speaks to members of the press on Air Force One on Wednesday. Photo: AFP
United States

Macroscope | No, stock markets are not a barometer of the world’s economic health

Markets have largely returned to calm after the US-China trade truce but all is not as it seems.

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Donald Trump

Trump calls US Fed chair a ‘fool’ after pause in rate cuts

The Fed said on Wednesday that it will hold the US central bank’s key lending rate at between 4.25 per cent and 4.5 per cent.

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US-China trade war

As tariffs hit US port arrivals, are empty shelves next as inventories sink?

Head of the Port of Los Angeles says the impact on imports is already substantial, with arrivals down by more than a third this week, year on year.

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Partially empty shelves of bedsheet fittings made in China are seen at a Walmart store in California last month. Photo: EPA-EFE
Banking & finance

Why Hibor at 30-month low is a positive sign for Hong Kong’s economy

Hibor-linked mortgage borrowers will save about US$40 per month after the one-month interbank rate fell by almost 1 percentage point.

A lower Hibor will reduce the burden for mortgage borrowers and companies. Photo: Shutterstock
Banking & finance

HKMA warns of uncertainty after keeping rates unchanged; Fed defies pressure

HKMA says Trump tariffs have increased uncertainty about US inflation and the economic growth outlook.

United States

Wall Street gains as China boosts its economy ahead of US trade talks

High-level US-China trade talks this weekend and Beijing’s plans to cut interest rates fuel gains on Wall Street.

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Hong Kong Monetary Authority (HKMA)

Hong Kong restrains local dollar’s rise for second time in 3 days

The city’s de facto central bank stepped in to maintain the peg to the US dollar amid strong capital inflow and rising regional currencies.

A man walks past a display showing bank notes of different currencies in Hong Kong on November 9, 2016. Photo: AFP
Central banks

Fed’s Powell is about to defy Trump and hold rates steady

With their eye on inflation, officials are inclined to hold rates steady when they meet in Washington, defying Trump’s pressure to cut interest rates.

US President Donald Trump looked on as Jerome Powell, his nominee to become chairman of the US Federal Reserve, spoke at the White House on November 2, 2017. Photo: Reuters.
Hong Kong Monetary Authority (HKMA)

Hong Kong reins back local dollar amid capital inflow

In its first market intervention in two years, the city’s de facto central bank bought US$6.005 billion at HK$7.75.

United States

Outside In | Uncertainty unleashed by Trump 2.0 will exact a high price

Companies and countries alike are seeing hedging costs hit the roof amid a loss of trust and certainty in the US, the dollar and Treasuries.

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US-China trade war

US jobs growth likely slowed in April, economists’ survey shows

Non-farm payroll growth probably slowed to 138,000 last month, according to a Bloomberg survey of economists.

A welder at Marlin Steel Wire in West Baltimore on April 10, 2025. Photo: The Baltimore Sun/TNS
Banking & finance

Opinion | As markets recover from Trump tariff shock, how long will new normal last?

While calm may have been restored for now, the fact is that Trump’s flip-flops have caused fundamental damage to the global economy.

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Asia housing and property

The View | 3 Asian property markets could offer shelter from Trump’s tariff storm

Although no property market is fully shielded from the trade shock, Asia’s real estate sector has strong and diverse sources of resilience.

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US-China trade war

Opinion | At the rate Trump’s going, a global recession will be hard to sidestep

The fracturing of global trade, coupled with the US president’s attacks on the Federal Reserve, doesn’t bode well for the world.

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A grocery shop employee adds price tags and stocks shelves in Chinatown in New York on April 16. Photo: Reuters
Hong Kong housing

US-China trade war could hurt Hong Kong housing demand: think tank

Our Hong Kong Foundation says short-to-medium-term impact of conflict on China’s currency will negatively affect mainland homebuyers in city.

A pedestrian walks past private housing in Kai Tak. A Hong Kong think tank says private housing demand will be hurt by the ongoing trade war. Photo: Jelly Tse
Banking & finance

Macroscope | Trump threatening the Fed shows where political risks really lie

The erosion of governance standards in the US shows advanced markets have more consequential political risks than many emerging economies.

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US-China relations

Letters | Hopes for US-China cooperation rest on true understanding

Readers discuss the lack of understanding of Chinese aspirations in the West, how Trump’s trade war could backfire, and Hong Kong’s US dollar peg.

United States

‘Going to get worse’: Americans sour on ‘erratic’ Trump’s handling of economy

A new poll shows only 37 per cent of American approve of Trump’s handling of the economy amid recession fears and trade war concerns.

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US President Donald Trump speaks during Liberation Day, where he announced additional tariffs targeting goods imported to the US. Photo: TNS
Donald Trump

Trump says he has ‘no intention’ of firing US Federal Reserve chair

The US president had earlier spooked markets by saying he would like to remove central bank head Jerome Powell.

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US President Donald Trump looks on as Jerome Powell speaks at the White House in November 2017. Photo: Reuters
Hong Kong property

21,000 Hongkongers vie for 329 new homes at SHKP’s Sierra Sea

The pricing is about 20 per cent below second-hand properties in the district in the New Territories, Midland Realty says.

Donald Trump

Explainer | Does Trump have authority to sack US Fed boss Jerome Powell?

The two men are at loggerheads over interest rate cuts and Trump’s power to fire Powell is unclear as no US president has done this before.

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