The Hong Kong Monetary Authority cuts its benchmark interest rate by a half-point to 1.5% yesterday. The Hang Seng jumped by 10% on the news.
Quite a different response than what we saw in the U.S. to a rate cut. I’ve said it before — if you’re going to be invested in stocks, make sure your dollars are invested in superball markets instead of dead cat markets.
Related Posts
- China cuts rates….again. (11/26/08)
- China cuts interest rates (09/16/08)
- New Zealand cuts rates by 1% (10/24/08)
- South Korea cuts rates too (11/09/08)
- China cuts interest rates (10/08/08)
