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Hong Kongs major stock indices rallied in the short term, with the Hang Seng Index turning positive and the Hang Seng Tech Index narrowing its losses to 0.3%.Sources say the Federal Reserve has not yet acted as required by the subpoena, and the investigation into Fed Chairman Powell is still ongoing.Hong Kong-listed mainland property stocks continued their upward trend, with Sunac China (01918.HK) surging over 20%, Kaisa Group (01638.HK) and China Aoyuan (03883.HK) rising over 15%, and R&F Properties (02777.HK), Vanke (02202.HK) and Yuexiu Property (00123.HK) among the top gainers.On January 29th, the State Council Information Office held a press conference to introduce the 2026 Spring Festival travel season situation and work arrangements. Li Chunlin, Vice Chairman of the National Development and Reform Commission (NDRC), stated that this years Spring Festival travel season presents new characteristics: travel is relatively dispersed before the festival and relatively concentrated afterward. In terms of travel modes, self-driving travel remains high, and returning home before traveling is becoming a new trend. To effectively ensure the safety and smooth travel of the public, the NDRC will work with relevant departments to do its utmost to increase transport capacity, guide staggered travel, and provide service guarantees. Regarding increasing transport capacity, the railway will implement a new train schedule, with the highest daily passenger train capacity expected to exceed 14,000, representing a 5.3% year-on-year increase in passenger capacity. The air will focus on increasing flights to hub airports and during peak tourist seasons, with an estimated 19,400 flights per day, a 5% year-on-year increase. Highways will strengthen capacity deployment to popular tourist destinations and rural passenger transport, while waterways will strengthen capacity guarantees on key routes such as the Qiongzhou Strait between Hainan and Guangdong provinces.On January 29th, Guangzhou City proposed in its "Sports Powerhouse City Construction Plan" to "leverage the experience and international resources of Guangdong, Hong Kong, and Macao in hosting sporting events to jointly bid for the World Cup." Regarding the latest progress, relevant departments in Guangzhou stated that the FIFA World Cup is the worlds most influential football event. According to the "Management Measures for Sports Events and Activities" issued by the General Administration of Sport of China, bidding for the World Cup requires approval from the General Administration of Sport of China or the State Council and must be included in the national foreign affairs activity plan. Guangzhou will actively cooperate with the work arrangements of the General Administration of Sport of China and the Chinese Football Association, and, under the premise of conforming to the overall national strategic plan, will continue to strengthen communication and cooperation with Hong Kong and Macao to promote the coordinated development of regional sports. Going forward, Guangzhou will actively implement the Guangzhou Sports Powerhouse City Construction Plan, continue to strengthen exchanges and cooperation with domestic and international sports organizations and associations, continuously monitor and understand international event resources, fully mobilize the enthusiasm of social forces to host events, and work with social enterprises to prepare for the bidding process for international events.