HK Stock Market Move | Concept stocks related to cryptocurrencies are falling. MEMESTRATEGY (02440) is down more than 7% and BOYAA (00434) is down nearly 6%.

Concept stocks in the encrypted currency sector are falling. As of the time of publication, MEMESTRATEGY (02440) fell by 7.61% to HK$2.55, BOYAA (00434) fell by 5.95% to HK$5.37, GOLDSTREAM INV (01328) fell by 5% to HK$5.13, and OKG TECH (01499) fell by 3.57% to HK$0.27. In terms of news, from last night to now, the collective decline of encrypted currencies, with Bitcoin falling below the $110,000 mark. As of the time of publication, Bitcoin, Ethereum, and XRP have all fallen by more than 2%. According to CCTV news, the Federal Reserve of the United States concluded a two-day monetary policy meeting on the 29th and announced a 25 basis point cut in the federal funds rate target range to between 3.75% and 4.00%. This is the Fed's second rate cut since September 17 and the fifth rate cut since September 2024. At the same time, the Fed decided to end the balance sheet reduction (shrinking balance sheet) plan starting from December 1. However, Federal Reserve Chairman Powell stated that there is uncertainty about the rate action in December, and the rate cut in December is "by no means" a certainty.