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The Hang Seng Index slipped 0.1 per cent to 26,875.79 as of 10.50am local time, after jumping as much as 0.6 per cent to top 27,000 points. The Hang Seng Tech Index retreated 0.1 per cent. On the mainland, the CSI 300 Index rose 0.1 per cent, while the Shanghai Composite Index added 0.4 per cent.
“Markets have already discounted significant further Fed easing,” said Larry Hatheway, global investment strategist at Franklin Templeton Institute. “Today’s news met expectations, but the challenge for investors is a Fed that is not yet willing to endorse their discounted future path of much lower interest rates.”
In Hong Kong, WeChat operator Tencent Holdings slumped 1.4 per cent to HK$652, while home appliance producer Haier Smart Home slid 2 per cent to HK$27.06. Sportswear producer Anta Sports Products fell 1.6 per cent to HK$95.25, while Wuxi AppTech lost 1.1 per cent to HK$112.30.
Limiting losses, search-engine giant Baidu jumped 4.6 per cent to HK$136.90, while blind box toymaker Pop Mart International added 2.3 per cent to HK$261.20. E-commerce firm Alibaba Group Holding advanced 0.5 per cent to HK$162.40, while food-delivery provider Meituan rose 2.8 per cent to HK$108.10.
