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HKAB: HK Commercial Property Still in Adjustment Period w/ Small Room for Prime Rate Adjustment
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While the local residential property market is recovering, the external environment remains uncertain, Sun Yu, Chairman of the Hong Kong Association of Banks (HKAB) and Vice Chairman and Chief Executive of BOC HONG KONG (02388.HK), said. Coupled with demand and interest rate conditions, Hong Kong's commercial real estate is still in an adjustment period. However, Hong Kong banks have been prudently managing loan risks, and it is believed that the credit risk in the banking industry is controllable. Regarding interest rates, Sun noted that the demand for HKD funds remains solid, and the 1-month HIBOR is expected to fluctuate within a range. In the short term, the likelihood of the HKD exchange rate reaching the strong-side Convertibility Undertaking is low. The 1-month interest spread between HKD and USD is expected to remain at a normal level of 80-100 bps, with HKD interest rates gradually declining along with USD. The prime rate is already at a historical low, leaving smaller room for adjustment. AASTOCKS Financial News Website: www.aastocks.com |
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