周四，恒生指数飙升357点，涨幅2.0%，收于两个月高点18017点，连续第五个交易日上涨。此前，美联储周三将利率下调50个基点，并计划在未来几个月进一步降息以提振经济和防止失业率上升，导致美国期货强劲反弹。在本地，鉴于香港的货币政策与美国同步，金管局将基准利率下调了与美联储相同的幅度。这一决定无疑为香港的消费者和企业提供了救济。在中国股市进一步上涨后，由于美国开始放松政策，北京方面有了更多空间来刺激疲软的经济，中国股市普遍稳步上涨。领头羊腾讯控股公司股价上涨2.3%，达到九周高点。华润置地股价飙升7.3%，创下自3月中旬以来的最佳单日表现。其他涨幅居前的是香港交易所（5.5%）、力汽车（5.2%）、美团（4.0%）和半导体制造（1.9%）。

The Hang Seng surged 357 points, or 2.0% to finish at a two-month high of 18,017 on Thursday, rising for the fifth straight session following a strong rally in US futures after the Fed cut interest rates by 50bps Wednesday and planned to lower them further in the coming months to bolster the economy and prevent rising unemployment. Locally, the HKMA reduced its base rate by the same size as the Fed did, given that monetary policy in the city moves in lockstep with the US. The decision surely provides relief for the city’s consumers and businesses. Solid gains were broad-based after Chinese stocks gained further, as the start of policy easing in the US gave Beijing more room to stimulate a weak economy. Bellwether Tencent Holdings jumped 2.3% to nine-week highs. China Resources Land soared 7.3%, posting its best day since mid-March. Other top movers among big caps were Hong Kong Exchanges & Clearing (5.5%), Li Auto (5.2%), Meituan (4.0%), and Semiconductor Manufacturing (1.9%).

CAC 40指数周四上涨1.1%，至7530点，与全球同行持平，前一交易日下跌0.6%。美联储周三大幅降息50个基点，这是自2020年以来的首次降息。该指数中的大多数股票都走高了，Stellantis NV领涨，在驳斥了美国汽车工人联合会的说法后上涨了近3%，包括有关其计划将道奇杜兰戈的生产从美国转移出去的指控。奢侈品巨头LVMH、爱马仕和开云集团也表现良好，分别上涨了2%、1.9%和1.2%。其他表现最好的公司包括意法半导体、安赛乐米塔尔和欧陆科学，股价上涨1.8%至2.4%。相反，Teleperformance的股价下跌了约1.3%，而Engie和Unibail-Rodamco-Westfield分别下跌了约0.8%和0.6%。

The CAC 40 climbed 1.1% to 7,530 on Thursday, mirroring its global peers, after falling 0.6% in the previous session. The upturn came after the Fed's significant 50bps rate cut on Wednesday, marking its first reduction since 2020. Most stocks in the index traded higher, with Stellantis NV leading the charge, jumping nearly 3% after refuting claims made by the United Auto Workers, including allegations that it planned to move production of the Dodge Durango out of the U.S. Luxury giants LVMH, Hermès, and Kering also performed well, posting gains of 2%, 1.9%, and 1.2%, respectively. Other top performers included STMicroelectronics, ArcelorMittal, and Eurofins Scientific, with shares rising between 1.8% and 2.4%. Conversely, shares of Teleperformance declined around 1.3%, while Engie and Unibail-Rodamco-Westfield fell about 0.8% and 0.6%, respectively.

英国10年期国债收益率升至3.854%，因投资者将注意力转移到英格兰银行，预计英格兰银行在8月份降息25个基点至5%后将保持利率不变。周三的通胀数据显示，消费者价格稳定增长2.2%，交易员将近期降息的可能性从报告前的35%降至25%。然而，市场仍预计11月和12月将降息，预计到2025年将再降息五次。与此同时，美联储自2022年3月以来首次降息，降息50个基点。

The UK 10-year gilt yield rose to 3.854% as investors shift focus to the Bank of England, which is expected to keep rates unchanged after a 25 basis-point cut to 5% in August. Following Wednesday's inflation data showing steady consumer price growth at 2.2%, traders reduced the odds of a near-term rate cut to 25%, down from 35% before the report. However, markets still anticipate rate cuts in November and December, with five more projected by 2025. Meanwhile, the US Federal Reserve delivered its first rate cut since March 2022, reducing rates by 50 basis points.

周四，富时100指数上涨，徘徊在8300点左右，与全球同行持平，因为投资者对美联储超大规模降息0.5个百分点做出了反应。美国央行启动了疫情以来的第一轮宽松政策，表明可能会进一步削减，尽管幅度可能不同。现在的焦点转移到今天晚些时候英格兰银行的利率决定上，尽管基准利率预计将保持在5%不变。矿业股对涨幅贡献最大，英美资源集团、嘉能可、力拓和安托法加斯塔均上涨2.8%至3.7%。接下来也是表现最好的公司之一，在两个月内第二次上调前景后上涨了3%以上，这是由于中期利润增长7.1%，达到4.52亿英镑，下半年前六周销售额增长6.9%。

The FTSE 100 traded higher on Thursday, hovering around 8,300, in line with global peers, as investors reacted to the Federal Reserve’s supersized half-point cut in interest rates. The U.S. central bank kicked off its first round of easing since the pandemic, signaling that additional cuts could follow, though they may not be of the same magnitude. The focus now shifts to the Bank of England's rate decision later today, though the benchmark interest rate is expected to remain unchanged at 5%. Miners contributed the most to the advance, with Anglo American, Glencore, Rio Tinto and Antofagasta all up between 2.8% and 3.7%. Next was also among the top performers, rising over 3%, after raising its outlook for the second time in two months, driven by a 7.1% rise in interim profits to £452m and a 6.9% increase in sales during the first six weeks of the second half.