Investment Daily Note

Market Highlights

The Federal Reserve announced its interest rate decision, and held the policy rate unchanged as expected. The post-meeting statement pointed out that economic growth slowed late last year and inflation remained below the target of 2%. It reiterated that the Fed would monitor global economic and financial developments, while not ruling out the possibility of raising interest rate in March. We expect interest rate-sensitive Hong Kong property stocks may benefit from the latest Fed decision.

WallStreetCN.com reported, citing the Ministry of Energy of Russia, that numerous Russian oil companies were studying the feasibility of coordinating actions with Organization of Petroleum Exporting Countries (OPEC). The market is looking towards a cut in oil production which had boosted the oil price thatmay bode well for oil-related stocks.