TOPIC

Interest rates

The Arch Sky Tower, a luxury residential building in West Kowloon, pictured on February 27, 2023. Photo: Yik Yeung-man

Hong Kong property

Hong Kong’s ‘Emperor’s Home’ sold at discount as distressed tycoons divest

‘We will continue seeing financially pressured owners offloading assets until interest rates come down substantially,’ analyst says.

28 Nov 2024 - 11:00PM

Hong Kong property

Hong Kong home prices rise for the first time since March; rents cool slightly

27 Nov 2024 - 1:22PM

Bonds

Hong Kong’s infrastructure bond offering excites retail investors

26 Nov 2024 - 7:33PMvideocam

Banking & finance

Hongkongers break savings record for second year amid shaky economy

Average monthly savings increased by 9 per cent to US$1,256 this year, Deposit Protection Board survey finds.

26 Nov 2024 - 5:00PM

Hongkongers are opting to stash more cash for future needs. Photo: Shutterstock

Hong Kong property

Hong Kong rental yields hit 12.5-year high on talent influx

Analysts expect momentum to improve further in 2025 as more professionals enter the city and people keep putting off home purchases.

25 Nov 2024 - 9:30AM

Wealth management

Hong Kong’s wealth sector thrives as political uncertainty, geopolitics swirl

The Capital Investment Entrant Scheme, launched in March, has brought in more than HK$20 billion from 670 applications, Paul Chan says.

22 Nov 2024 - 2:54PMvideocam

Banking & finance

Top bankers stress resilience and wisdom key to navigating uncertainty

Speakers at the Global Financial Leaders’ Investment Summit say collaboration and strategic thinking hold the key to tackling a divided world.

19 Nov 2024 - 1:15PMvideocam

Participants at the Global Financial Leaders’ Summit engage in discussions with their counterparts. Photo: Mia Castagnone

Alibaba

Alibaba to sell bonds to repay debt, fund buy-back amid low rates

The Chinese e-commerce leader is issuing bonds denominated in US-dollar and yuan to help repay debt and fund stock repurchases.

18 Nov 2024 - 4:00PM

Bonds

Hong Kong to issue HK$20 billion retail infrastructure bond

The bond, which have a tenor of three years, will provide assured returns of 3.5 per cent to be paid every six months.

18 Nov 2024 - 2:54PM

Bonds

HSBC’s 4.5 billion yuan panda bond to boost globalisation of Chinese currency

The bond, which pays an annual coupon of 2.15 per cent, also reinforces Hong Kong’s role as the world’s offshore yuan centre, bank says.

13 Nov 2024 - 10:07AM

Yuan deposits in Hong Kong exceeded 1 trillion yuan for six months in a row up to September, according to HKMA. Photo: EPA-EFE

Hong Kong property

Hong Kong landlords head for the exit when the going is good

Owners seize upon market optimism amid rate cuts and easing restrictions before a supply glut and uncertain economy derail sentiment.

11 Nov 2024 - 5:00PM

Virtus Medical Tower, a 15-storey building in Central, is on sale. Photo: Jonathan Wong

Hong Kong property

Hong Kong residential property prices to rebound in 2025; unsold inventory looms

‘We expect Hong Kong home prices to be up 5 per cent in 2025,’ says Praveen Choudhary of Morgan Stanley.

11 Nov 2024 - 10:00AM

Hong Kong property

Hong Kong home prices to bottom out in short term after rate cut: analysts

Unexpected prime-rate cut by local lenders seen bringing more buyers into market, shoring up prices.

8 Nov 2024 - 6:30PM

HSBC

HSBC, 5 other Hong Kong banks cut interest rates to lowest in 2 years

Cuts could lighten monthly mortgage burden by HK$709 for a typical HK$5 million, 30-year loan, a broker says.

8 Nov 2024 - 4:45PM

Office workers crossing a busy street near a HSBC branch in Mong Kok on October 22 Photo: Nora Tam

Banking & finance

Fed rate cut gives China room to move as Beijing eyes more economic stimulus

US Federal Reserve lowered its benchmark rate less than a day before China is expected to release its latest economic stimulus plan.

8 Nov 2024 - 9:14AM

US Federal Reserve Board chairman Jerome Powell. Photo: Xinhua

Banking & finance

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

8 Nov 2024 - 11:06AM

US Federal Reserve

US Federal Reserve eases rates with quarter-point cut

Fed chairman Jerome Powell is expected to be questioned on Thursday about economic impact of Trump’s US election victory.

8 Nov 2024 - 6:53AM

US presidential election 2024

Wall Street stocks, bitcoin, US dollar soar following Trump win

However, concerns about inflation and higher interest rates emerged, leading to a decline in Treasury bond prices and European stock markets.

7 Nov 2024 - 7:42AMvideocam

A monitor shows a CNBC broadcast at the New York Stock Exchange after Republican Donald Trump won the US presidential election. Photo: Reuters

Hong Kong property

Mainland Chinese buyers rush into Hong Kong property, agents say

Home purchases by mainland buyers surged 69 per cent in the first nine months of the year, accounting for nearly a quarter of transactions.

4 Nov 2024 - 8:30AM

Banking & finance

Standard Chartered to focus on wealth business, sell units after upbeat earnings

Net profit for the June to September period handily beat analysts’ estimates of US$886 million.

30 Oct 2024 - 3:42PM

Hong Kong property

Hong Kong home prices fall to their lowest since 2016, but rents rise

Secondary home prices fell 1.7 per cent in September, while rents rose 0.1 per cent month on month.

29 Oct 2024 - 4:20PM

Homes listed for sale are displayed outside a property agency in Hong Kong. Photo: Eugene Lee

Hong Kong property

Hong Kong’s office market to trail recovery in residential, retail properties

Reports of brisk weekend home sales show the housing market will outpace offices in recovery going into 2025, consultancies say.

29 Oct 2024 - 8:30AMvideocam

Hong Kong’s office skyline in Central in February 2024. Photo: Sun Yeung

Hong Kong property

Hong Kong property: Chinachem’s Cheung Sha Wan project sells out

The developer found buyers for all 198 units in the project, agents said.

27 Oct 2024 - 8:30PM

Hong Kong property

Hey big spender! Hong Kong transacts 3 luxury homes in a week

Two big deals recorded in Mid-Levels, another one on the books in Happy Valley.

25 Oct 2024 - 7:00PM

Hong Kong property

Hong Kong developers to feel earnings pain amid high vacancy rates: Moody’s

Moody’s says office and retail property segments are likely to remain under pressure.

24 Oct 2024 - 6:32PMvideocam

Hong Kong’s office and retail property segments are likely to remain under pressure, according to Moody’s. Photo: Jelly Tse

HKEX

HKEX’s third-quarter profit rises 7% on IPOs, turnover

Funds raised from IPOs in the June to September quarter reached HK$42.2 billion, six times higher than a year earlier.

23 Oct 2024 - 5:07PMvideocam

Hong Kong Exchanges and Clearing is the operator of the third-largest market in Asia. Photo: Edmond So

China property

Editorial | China property push reflects need to raise consumer confidence

The cut in the key reference rate for mortgage loans may have been expected, but it shows monetary policy is squarely aimed at fighting deflation.

23 Oct 2024 - 5:27AM

Hong Kong property

Hong Kong religious group sells US$14 million in property as home market perks up

Jehovah’s Witnesses group has sold 16 units in Tseung Kwan O since July – 11 of them after banks cut interest rates in September.

22 Oct 2024 - 4:46PM

Help preserve 120 years of quality journalism.

SUPPORT NOW

Interest rates

An interest rate is the amount charged by banks to borrowers for any loan, which is a percentage of the principal. It is an important monetary tool for central banks to control inflation and boost economic growth. The Hong Kong Monetary Authority maintains its official base rate in lockstep with the US Federal Reserve because the Hong Kong dollar has been pegged with the US currency since 1983. Hong Kong commercial banks can decide when to change their prime lending rate and deposit rate, which may differ in terms of timing and margin of change.

last updated:

2 October, 2024