Hang Seng closes up 103.67 points, bucking Asian markets, as investors eye Fed meeting outcome

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Summary · why it matters

The Hang Seng Index in Hong Kong closed up 103.67 points, or 0.41%, at 25,310.85 today, bucking the trend of most Asian markets which fell on a tech sell-off. Xiaomi rose 2.0%, Tencent added 1.0%, Meituan edged up 0.9%, and Horizon Robotics surged 8.9%. Investors are closely watching the US Federal Reserve's monetary policy meeting this week, with CME Group's FedWatch Tool indicating a 62% probability that the Fed will hold rates at 3.50% to 3.75% at the July 28-29 meeting, and a 38% chance of a 0.25% rate hike. In addition, the US June personal consumption expenditures price index, due on Thursday, will be a key data point shaping rate expectations for the rest of the year. Meanwhile, Shein, the online fast-fashion giant, disclosed financial information ahead of its initial public offering, reporting a net loss of 99 million US dollars in the first quarter of 2026, compared with a net profit of 395 million US dollars in the same period a year earlier, as sales slowed sharply after the US ended a duty-free exemption for small parcels. This comes as the company prepares for its investor roadshow and official IPO subscription on the Hong Kong stock exchange.

Impact on stocks 4

Digital Finance & Tokenization▲ · 1 stocks
Tencent Holdings Ltd
0700
▲ PositiveMonetaryrelevance

Market anticipation of Fed rate hold supports sentiment, lifting Tencent along with the index.

Electrification & Mobility▲ · 1 stocks
Xiaomi Corp
1810
▲ PositiveMonetaryrelevance

Xiaomi rose 2.0% as part of the Hang Seng's broad gain driven by Fed meeting expectations.

Advanced Air Mobility (eVTOL)▲ · 1 stocks
Meituan
3690
▲ PositiveMonetaryrelevance

Meituan edged up 0.9% amid the index's positive close on Fed rate outlook.

Robotics & Physical AI▲ · 1 stocks
Horizon Robotics
9660
▲ PositiveMonetaryrelevance

Horizon Robotics surged 8.9% as part of the Hang Seng's rally on Fed meeting hopes.

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