Hong Kong Becomes Fifth Largest Commodity Trader

The Wong Fu Yuen Fire Independent Commission is continuing its hearings in Hong Kong. The decline exceeded 300 points during morning trading, with over 1,100 stocks falling. More than 1,100 stocks fell during a mid-week trading session in Hong Kong. The decline has reached over 1,100 falling stocks during a half-day session, following the US Federal Reserve's decision to hold interest rates steady for a third time. Analysts suggest market opinions are divided regarding potential interest rate cuts, which may not occur as quickly as expected. OCBC Bank Hong Kong economist Jiang Jing noted that Middle East tensions are creating high uncertainty and impacting global energy prices. Financial Secretary Paul Chan Mo-po stated that building a strong nation requires financial support and a powerful international financial center. The Hong Kong government plans to align with national development strategies to enhance its role as an international financial center. The 15th Five-Year Plan explicitly calls for accelerating the construction of a financial powerhouse and a modern financial system with Chinese characteristics. The Hong Kong government launched a diesel subsidy of 3 dollars per liter starting at midnight to combat rising international fuel prices caused by Middle East conflicts. The government launched a two-month diesel subsidy of 3 HKD per liter at midnight, alongside a planned 0.5 HKD per liter LPG subsidy for taxis, minibuses, and school nanny vehicles. Hong Kong has ascended to the position of the world's fifth largest economy in terms of global commodity trade.