HKMA responds to Fed's interest rate decision

date
29/10/2026
On October 29, the Hong Kong Monetary Authority issued a statement in response to the Federal Reserve's interest rate decision: The Federal Open Market Committee of the Federal Reserve announced in the early hours of this morning Hong Kong time that it would keep the target range for the federal funds rate at 3.75-4 percent.
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Geely Automobile announced on the Hong Kong Stock Exchange that in the third quarter of 2026, the Group continued to maintain solid operating performance, recording total sales of 812,523 units, a year-on-year increase of 7%. Driven by the substantial growth in export sales and the increased share of high-value product sales, the Group's revenue for the period increased by 10% year on year, with revenue growth outpacing sales growth, indicating that both the product mix and average selling price improved. In the third quarter of 2026, profit attributable to owners of the parent was RMB 4.84 billion: RMB 3.79 billion), a year-on-year increase of 28%. To facilitate assessment of the Group's core operating performance, in the third quarter of 2026, core profit attributable to owners of the parent was RMB 5.21 billion: RMB 3.94 billion), a year-on-year increase of 32%. For the nine months ended September 30, 2026, core profit attributable to owners of the parent was RMB 14.90 billion: RMB 10.56 billion), a year-on-year increase of 41%; while profit attributable to owners of the parent was RMB 13.93 billion: RMB 13.05 billion), a year-on-year increase of 7%. The growth rate of core profit was higher than that of profit attributable to owners of the parent, mainly because the Group recorded a net foreign exchange loss during the period, compared with a net foreign exchange gain in the same period last year. The growth rate of core profit was also higher than revenue growth, reflecting the continuous improvement in the Group's overall operating performance.
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