Banking sector mixed after US rate cut

Bank stocks were mixed following the US Federal Reserve's 50 basis point rate cut, while profit-taking in heavyweight HSBC dragged the financial sub-index lower in the morning, dealers said. The Hang Seng Financial sub-index was down 88.76 points at 17,533.16. HSBC lost HKD0.75 to HKD81.00, while Bank of East Asia advanced HKD0.25 to HKD15.00. The Hang Seng Index gained 1.00 point to 81.75 point.

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