HK Stock Market Move | BOC Hong Kong (02388) rose more than 4%, leading Hong Kong bank stocks. The stock price hit a new all-time high.

BOC HONG KONG (02388) rose more than 4%, reaching a high of 37.3 Hong Kong dollars, hitting a historical high. As of the time of writing, it increased by 4.06%, trading at 37.2 Hong Kong dollars, with a market value of 10.45 billion Hong Kong dollars. On the news front, on July 9th local time, the Federal Reserve of the United States released the minutes of the Federal Open Market Committee (FOMC) meeting held on June 17th-18th. The minutes showed that there was a divergence among Fed officials on future monetary policy, but most members evaluated that a rate cut might be appropriate this year. Additionally, Industrial indicated that Bank of China shares have stable dividend characteristics compared to other global banks, with mainland major banks maintaining a stable dividend payment rate of around 30% in the past three years, while BOC HONG KONG and Hang Seng Bank can maintain it above 50%, enhancing the predictability and certainty of shareholder returns. Public information shows that BOC HONG KONG is one of the three note-issuing banks in Hong Kong and the only RMB business clearing bank, maintaining a solid position in the internationalization process of the RMB. The company has established a tripartite business development strategy centered on Hong Kong, driven by the Greater Bay Area and Southeast Asia in coordination.