Hong Kong dollar

The overnight Hong Kong Interbank Offered Rate has fallen close to 60 basis points so far this month, set for the biggest June drop since 2006.

Hong Kong dollar nears weak end on low volatility, cheap rates

Muted funding costs in the city have been aided by weaker demand for cash as a slump in local equities curbed financing needs

Carry trades have pushed the Hong Kong dollar towards the weak end of its 7.75-to-7.85 band versus the US dollar.

Banking & Finance

Hong Kong dollar carry trade appeal dims as funding costs climb

A rising Hibor narrows the interest rate gap between the US dollar and Hong Kong dollar

The rush of Hong Kong dollar public bond issuance has taken shape over the past 12 to 18 months as liquidity has grown at the city’s financial institutions.

Banking & Finance

Hong Kong’s local debt market becomes surprise funding hotspot

The city’s appeal as a safe haven amid turmoil in the Middle East and other regions has helped fuel the recent activity

Hong Kong dollar bond issuance is also being propelled by lower funding costs compared to the US currency.

Banking & Finance

Hong Kong dollar bond sales boom as issuers tap into haven flows

Issuers from outside the city have sold a record HK$189.8 billion of such notes this year

The strategy of borrowing Hong Kong dollars cheaply to invest in the higher-yielding greenback is gaining traction as financing costs in the city slump.

Capital Markets & Currencies

Hong Kong dollar slips as loose liquidity revs up carry trades

The one-month rate in the interbank market has dropped to the lowest since November

CapitaLand Integrated Commercial Trust has ridden a wave of investor interest this year amid expectations that interest rates have peaked.

Companies & Markets

CICT overtakes Hong Kong’s Link Reit to become Asia’s largest real estate investment trust

A main factor behind this is the strength of the Singapore dollar, which has gained 5.7% against the greenback so far this year

The supply of cash is dwindling this week as banks are hoarding their reserves toward the end of the month and the quarter.

Banking & Finance

Hong Kong’s key rate climbs above 3% to pose risks for economy

If the gauge sustains above that level, it could have a negative impact on the economy

The Hong Kong Monetary Authority bought HK$6.429 billion of the local currency on Aug 5, in addition to its purchases on Aug 1 and Jul 30.

Capital Markets & Currencies

Hong Kong resumes currency intervention spree amid low rates

[HONG KONG] Hong Kong’s brief pause from defending its beleaguered currency proved to be short-lived, as the authorities were forced to buy local dollars for the third time in a week amid stock outflo...

The Hong Kong Monetary Authority (HKMA), the Chinese financial hub’s de-facto central bank, bought HK$29.6 billion (S$4.8 billion) of the currency in New York trading on Thursday (Jul 4).

Banking & Finance

Hong Kong moves to defend FX peg for third time in a week

The HKMA maintains the local currency in a trading range of HK$7.75 to HK$7.85 against the US dollar

To keep the Hong Kong dollar in the allowed trading range against its US counterpart, the HKMA absorbs flows by taking the opposite side of trades once they reach either end of the band.

Capital Markets & Currencies

Hong Kong steps up defence of FX peg as fixed range tested again

The Hong Kong dollar has been through a rollercoaster ride in recent months, swinging between both ends of its trading range

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