A new light rail service opened on Monday afternoon in the Macao Special Administrative Region, offering a new travel option that will provide local residents and travelers with a comfortable and quick journey to and from Hengqin Port, an important transportation hub linking Hengqin and Macao.
The much-anticipated Hengqin Line -- consisting of the Lotus Station in Macao and the Hengqin Station located across the water in Zhuhai of south China's Guangdong Province -- entered into operation after the first train departed from the Lotus Station shortly after 13:00 on Monday.
The line spans 2.2 kilometers and includes a 900-meter-long underwater tunnel underneath the Shizimen Waterway. The total travel time is just around two minutes, while trains will run every six minutes at peak times, with passengers being processed at the Hengqin Border checkpoint.
"I study in Macao. The Hengqin Line really makes my life convenient because it allows me to travel directly from Hengqin to Macao. In the past I had to transfer by bus, which made my trip troublesome and sometimes caused me to be late for school," said Zeng Siqi, a student.
"Thanks to the new line, my kid no longer needs to take the bus to get home. The train makes things much easier and also saves time," said Chan Shui Leung, a Mocao resident.
"I can simply take the light rail instead buses to Hengqin to eat and have fun, which I find very convenient," said Lai Hiu Lok, another Macao resident.
The line will also help Macao integrate into the "one-hour living circle" of the Guangdong-Hong Kong-Macao Greater Bay Area. Covering 56,000 square kilometers, the Greater Bay Area encompasses Hong Kong, Macao and nine cities across Guangdong, with the area achieving a total economic output of over 14 trillion yuan (more than 1.9 trillion U.S. dollars) in 2023.
Macao's light rail Hengqin Line brings convenience to residents, visitors
U.S. stocks ended mixed on Wednesday, with the S and P 500 and Nasdaq Composite rising to fresh all-time highs, as investors remained hopeful about progress toward a U.S.-Iran peace deal.
The Dow Jones Industrial Average fell 0.15 percent to 48,463.72. The S and P 500 added 0.8 percent to a new record close of 7,022.95. The Nasdaq Composite Index rose 1.59 percent to 24,016.02, extending its winning streak to 11 consecutive sessions.
Seven of the 11 primary S and P 500 sectors closed lower, with materials and industrials leading the laggards at declines of 1.3 percent and 1.24 percent, respectively. Technology and consumer discretionary were the top performers, rising 2.08 percent and 1.37 percent.
Stocks have rallied strongly this week on hopes that a deal between the United States and Iran may materialize. U.S. President Donald Trump offered further encouragement, telling Fox Business in an interview on Wednesday that the Iran war is "very close to being over."
Broadcom was among the session's standout performers, rising 4.19 percent after Meta Platforms announced an extension of their partnership to deploy custom chips based on Broadcom's technology.
Meanwhile, the U.S. economy grew at a "slight to modest pace" over the past six weeks, even as consumers faced higher prices and increasing demand for assistance, according to the Federal Reserve's Beige Book released Wednesday. The report, covering the 12 Fed districts, described the Iran war as "a major source of uncertainty" for businesses. Price growth was characterized as "moderate," despite a sharp rise in energy and fuel costs.
"Many Districts continued to report signs of consumer financial strain, increased price sensitivity, and rising demand at food banks and other social service organizations, while spending among higher-income consumers was resilient," the Beige Book stated.
Shares of all the "Magnificent Seven" technology giants ended higher except for Amazon, led by a 7.62 percent surge in Tesla.
Bank of America rose nearly 2 percent and Morgan Stanley advanced 4.52 percent after reporting better-than-expected quarterly results. Goldman Sachs kicked off bank earnings season on Monday, followed by Wells Fargo, JPMorgan Chase and Citigroup on Tuesday.
Snap Inc. surged nearly 8 percent after the company announced it would lay off approximately 16 percent of its global workforce, with its CEO Evan Spiegel citing "rapid advancements in artificial intelligence" as a key factor.
U.S. stocks close mixed with S and P 500, Nasdaq hitting record highs
