PANews reported on October 2 that Jeffrey Ding, chief analyst of HashKey Group, said that since the US interest rate cut, the global securities market has ushered in a sign of recovery. Following the rebound of A-shares, the Hong Kong stock market has been active, with the Hang Seng Index rising 6.2% today and the technology index soaring 8.5%. Since September 11, the Hang Seng Index has risen to 22,448 points, close to the high of 22,689 points on January 27, 2023, a 31-month high.

Hong Kong stock trading volume exceeded HK$1 trillion for several consecutive days, and the hot trading caused delays in the exchange server. Such a grand event has been rare since 2015. The increase in trading volume and price has become a strong bullish signal, indicating that investors are actively participating in the trend reversal.

Jeffrey Ding believes that for the crypto market, the current funds are diverted to the Hong Kong and mainland stock markets, while the US, Japanese and crypto markets are falling due to insufficient liquidity. Historical data shows that the liquidity expansion caused by the US interest rate cut will bring about a global economic recovery, but in the short term, funds tend to flow to high-yield markets.