HONG KONG: Hong Kong stocks rallied on Monday , leading most Asian markets higher after last week's losses, with investors cheering a decision by the city to suspend plans to push through a controversial extradition law.
The plan had also spooked business leaders who feared it would damage the city's reputation as an international business hub. "A less than full dovish undertone from the Fed could stop a rally in equities and reverse some gains as there is heavy anticipation of a rate cut sooner rather than later," said OANDA senior market analyst Alfonso Esparza.
However, optimism is at a premium after US officials played down the chances of an agreement between the two leaders.
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