hong kongs benchmark hang seng index edged lower on thursday morning with major uslisted chinese stocks trading mixed after the citys central bank hiked interest rates in tune with the us federal reserves move overnight the hang seng fell 016 in opening trade following the hong kong monetary authoritys move to raise its base rate by 75 bps macro news hong kong increased its base rate by 75 basis points for the second consecutive month taking its borrowing cost to the highest level since 2019 reported the south china morning post local banks are expected to follow suit the rate at which banks lend money to their top customers is currently between 5 and 525 at the city’s five largest banks also read federal reserve issues second straight 075 interest rate hike the important signal its sending on inflation china and south korea have renewed talks to open up their service sector economies which analysts say could be a winwin for both countries reported the south china morning post company news tesla inc rival tsla xpeng has cut vehicle prices as its orders may not have risen in line with its significant increase in production capacity reported cnevpost citing local media nio has set up a new software company in shanghai where it is based which could pave the way for the launch of its assisted driving system reported cnevpost new yorklisted chinese cloud computing firm kingsoft cloud holdings ltd kc has submitted an application for a dual primary listing in hong kong reported the south china morning post global markets us markets rallied on wednesday after the fed hiked rates in line with market expectations and its chairman hinted at slowing down tightening going forward elsewhere in asia australia’s asx 200 traded 047 higher japan’s nikkei 225 was up by 011 while the south korean kospi rose 08 china’s shanghai composite index traded higher by 023