Last week, the Federal Reserve cut interest rates higher than the market had generally expected, HSBC said. The rate cut by the Federal Reserve did not cause an excessive reaction from investors, but it is expected that there will still be 6 more rate cuts in the future, and they remain cautiously optimistic about the global economic outlook. Raymond Li, head of Wealth Management and Personal Banking Investments and Wealth Management in the Asia-Pacific region at HSBC, said that investors did not overreact to the Federal Reserve's rate cut this time. Investor sentiment did not change significantly whether the rate cut was 25 basis points or 50 basis points. The current investment concept of "putting cash in and getting returns from cash" will continue for some time. However, as investors had already established a certain psychological expectation before the rate cut, this rate cut by the Federal Reserve is beneficial for investors to further adjust their deployment plans for cash assets, but it did not cause panic or excessive excitement in the market. This rate cut indicates a turning point in the interest rate cycle, and the Federal Reserve has finally taken action. Andrew Liu, head of Capital Markets Investments in the Asia-Pacific region at HSBC Global Private Banking and Wealth Management, said that there will be more rate cuts in the future. HSBC expects there will be 6 rate cuts in the future, each cut by 25 basis points, bringing the target range of the federal funds rate from the current 4.75%-5% down to 3.25%-3.5%. Liu said that, for the stock market, more consideration will be given to economic expectations rather than just the rate cut process, and HSBC still maintains a cautiously optimistic attitude towards the global economic outlook. Raymond Li said that HSBC manages $607 billion in Asian investment assets, achieving a 21% year-on-year growth in asset size in the second quarter of 2024, and a strong double-digit growth in capital market returns in the first half of 2024. Wealth management also covers various aspects such as financial security, personal planning (such as retirement), and core asset solutions. Chen Huimei, head of Global and Asian Consulting at HSBC's Global Private Banking and Wealth Management, said that as financial technology becomes more widespread, banks also emphasize the use of technology. HSBC will launch an innovative SmartMatch feature to help customers optimize asset allocation more accurately through technology. In terms of wealth growth in different regions, Raymond Li noted significant growth in Singapore, with a wide range of asset sources. HSBC has observed a continuous inflow of assets from some countries in the Asia-Pacific region into Singapore, and the Lion City has also attracted wealth from Australia and China. It is certain that Singapore is a growing center, but Raymond Li also mentioned that the growth in Hong Kong is equally substantial.