HKAB: Hong Kong Commercial Real Estate Continues to Adjust with Limited Potential for Prime Rate Changes
Local Property Market Recovery: The local residential property market in Hong Kong is showing signs of recovery, although the external environment remains uncertain, according to Sun Yu, Chairman of the Hong Kong Association of Banks.
Commercial Real Estate Adjustment: Hong Kong's commercial real estate is still undergoing adjustments due to demand and interest rate conditions, but banks are managing loan risks prudently, keeping credit risk controllable.
Interest Rate Outlook: Demand for HKD funds is solid, with the 1-month HIBOR expected to fluctuate within a range, while the likelihood of the HKD exchange rate reaching the strong-side Convertibility Undertaking in the short term is low.
Interest Rate Spread: The interest spread between HKD and USD is anticipated to remain normal at 80-100 bps, with HKD interest rates gradually declining alongside USD, and the prime rate already at a historical low.
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BOC HONG KONG Launches New Banknote Exchange Service Today with Strong Online Reservation Demand
New Banknotes Exchange Service: BOC Hong Kong has launched a New Banknotes Exchange Service, offering 'Good-as-new Notes' and 'Standard New Banknotes Package' at all branches from today until February 16.
High Demand: The online reservation for the exchange service has seen overwhelming response, with full bookings reported on the first day of operation.
BOC Hong Kong Keeps HKD Prime Rate Steady at 5%
Short Selling Activity: BOC Hong Kong reported a short selling amount of $153.83 million, with a ratio of 21.532%.
Interest Rates Announcement: The HKD prime rate and savings deposit rate remain unchanged at 5% p.a. and 0.001% p.a., as per BOC Hong Kong's announcement.
Bloomberg Intelligence: Wealth Management Fee Income in Hong Kong Banking Sector Expected to Increase by Over 20% This Year
Wealth Management Growth: The Hong Kong banking sector, particularly HSBC and BOC Hong Kong, is expected to see a growth of over 20% in wealth management fee income this year, driven by fund sales, brokerage income, and bancassurance business.
Market Optimism: This increase in wealth management fees is attributed to a positive outlook on global AI technology, favorable market conditions in equities, fixed income, and precious metals, along with solid risk appetite due to anticipated rate cuts by the Federal Reserve.
<Research>HSBC Identifies Hong Kong Stocks Receiving the Most Institutional Interest (Table)
Stock Performance Overview: Various stocks including AIA, Alibaba, and BYD showed mixed performance with AIA and Alibaba experiencing gains, while SMIC saw a decline.
Short Selling Data: Significant short selling activity was noted across multiple stocks, with BYD and SHK PPT having the highest short selling ratios at 34.941% and 35.602%, respectively.
Investment Ratings: Analysts have given "Buy" ratings to several companies including Alibaba, BOC Hong Kong, and Trip.com, while AIA is rated as "Hold."
Market Insights: JPMorgan estimates Alibaba's T-Head valuation to be between US$25-62 billion, indicating that a spinoff and separate listing is unlikely this year.
BOC HONG KONG: RMB Business Facility Increased Twofold, Supporting More 'Going Global' Companies
RMB Business Facility Increase: The Hong Kong Monetary Authority (HKMA) has doubled the RMB Business Facility to RMB200 billion with support from the People's Bank of China (PBOC), enhancing liquidity for Hong Kong's financial market.
Support for Cross-Border RMB Usage: The increase in the RMB Business Facility aims to promote cross-border usage of RMB, benefiting enterprises looking to expand globally and supporting the development of the real economy.
BOC HONG KONG Reports 40% Year-Over-Year Increase in Cross-Border Clientele
Customer Growth: BOC HONG KONG reported a 40% year-over-year increase in cross-border customers, indicating a rising demand for globalized financial services.
New Service Launch: The bank introduced the "Global Account Service" in collaboration with BANK OF CHINA, allowing customers to access and manage their accounts across the Bank of China Group in mainland China and Hong Kong through mobile banking.
BOC HONG KONG Launches New Banknote Exchange Service Today with Strong Online Reservation Demand
New Banknotes Exchange Service: BOC Hong Kong has launched a New Banknotes Exchange Service, offering 'Good-as-new Notes' and 'Standard New Banknotes Package' at all branches from today until February 16.
High Demand: The online reservation for the exchange service has seen overwhelming response, with full bookings reported on the first day of operation.
BOC Hong Kong Keeps HKD Prime Rate Steady at 5%
Short Selling Activity: BOC Hong Kong reported a short selling amount of $153.83 million, with a ratio of 21.532%.
Interest Rates Announcement: The HKD prime rate and savings deposit rate remain unchanged at 5% p.a. and 0.001% p.a., as per BOC Hong Kong's announcement.
Bloomberg Intelligence: Wealth Management Fee Income in Hong Kong Banking Sector Expected to Increase by Over 20% This Year
Wealth Management Growth: The Hong Kong banking sector, particularly HSBC and BOC Hong Kong, is expected to see a growth of over 20% in wealth management fee income this year, driven by fund sales, brokerage income, and bancassurance business.
Market Optimism: This increase in wealth management fees is attributed to a positive outlook on global AI technology, favorable market conditions in equities, fixed income, and precious metals, along with solid risk appetite due to anticipated rate cuts by the Federal Reserve.
<Research>HSBC Identifies Hong Kong Stocks Receiving the Most Institutional Interest (Table)
Stock Performance Overview: Various stocks including AIA, Alibaba, and BYD showed mixed performance with AIA and Alibaba experiencing gains, while SMIC saw a decline.
Short Selling Data: Significant short selling activity was noted across multiple stocks, with BYD and SHK PPT having the highest short selling ratios at 34.941% and 35.602%, respectively.
Investment Ratings: Analysts have given "Buy" ratings to several companies including Alibaba, BOC Hong Kong, and Trip.com, while AIA is rated as "Hold."
Market Insights: JPMorgan estimates Alibaba's T-Head valuation to be between US$25-62 billion, indicating that a spinoff and separate listing is unlikely this year.
BOC HONG KONG: RMB Business Facility Increased Twofold, Supporting More 'Going Global' Companies
RMB Business Facility Increase: The Hong Kong Monetary Authority (HKMA) has doubled the RMB Business Facility to RMB200 billion with support from the People's Bank of China (PBOC), enhancing liquidity for Hong Kong's financial market.
Support for Cross-Border RMB Usage: The increase in the RMB Business Facility aims to promote cross-border usage of RMB, benefiting enterprises looking to expand globally and supporting the development of the real economy.
BOC HONG KONG Reports 40% Year-Over-Year Increase in Cross-Border Clientele
Customer Growth: BOC HONG KONG reported a 40% year-over-year increase in cross-border customers, indicating a rising demand for globalized financial services.
New Service Launch: The bank introduced the "Global Account Service" in collaboration with BANK OF CHINA, allowing customers to access and manage their accounts across the Bank of China Group in mainland China and Hong Kong through mobile banking.
