Hong Kong shares open slightly lower after Fed meeting
The Hang Seng Index fell 16.75 points, or 0.1 percent, to open at 17,327.85 points on Thursday, following its 2 percent rise on Wednesday ahead of the Federal Reserve's policy meeting. Overnight, the Fed Chair Jerome Powell said interest rates could be cut as soon as September if the US economy follows its expected path, putting the central bank near the end of a more than two-year battle against inflation. The Fed ended its latest two-day policy meeting with a decision to hold its benchmark interest rate steady in the 5.25-5.50 percent range that was set a year ago. Later the Hong Kong Monetary Authority said it was keeping its base rate at 5.75 percent.