Good day, traders!
What you need to know: Hong Kong stocks held ground on Wednesday morning as traders adopted a cautious stance ahead of the US Federal Reserve's impending interest rate decision and ahead of a landmark mega-listing on the local bourse.
The Hang Seng Index rose nearly 0.4 per cent to 25,301.81 points as of 9.45am. Broader Asian sentiment remained cautious.
Overnight on Wall Street, major US benchmarks diverged as an aggressive sector rotation out of high-priced artificial intelligence and semiconductor stocks into traditional blue-chip and value names accelerated.
The divergence on Wall Street, where the Dow surged over 530 points while chip stocks slid, was mirroring across Hong Kong. Heavyweight AI hardware and semiconductor plays were consolidating, while capital rotated into stable banking and undervalued consumer names.
