The Hong Kong Interbank Offered Rate (HIBOR) rose across the curve on Thursday, ...
HONG KONG - The Hong Kong Interbank Offered Rate rose across the curve on Thursday, with investors scrambling for cash ahead of the world’s biggest initial public offering of the year at a time of tight liquidity in the domestic market.
On Thursday, the one-month and two-week tenors shot up to 2.99% and 3.53%, respectively, their highest since October 2008, while two-month and three-month HIBOR reached their highest levels since November of the same year. Analysts from Bank of America Merrill Lynch estimated in May that Hong Kong-listed Chinese companies will need to pay $55 billion of dividends this year, mostly in June and July.to its strongest since May 2017. The currency was seen at 7.7893 per dollar, up 0.1% on the day. It is pegged to the U.S. dollar at a tight range of 7.75 to 7.85.
But that gap by-and-large closed in June. The Hong Kong dollar rose 0.33% against the greenback that month, its largest monthly gains since September 2008.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK's Hunt: we expect China to abide by the 1984 Hong Kong treatyBritain expects China to abide by a 1984 treaty which guarantees basic freedoms ...
Read more »
Hong Kong leader condemns 'extreme use of violence' by protestersDemonstrators spray painted walls and hung the colonial flag in the Legislative Council building on the 22nd anniversary of the city's handover to China.
Read more »
Chinese state media warns conflicts could hurt Hong Kong economyConfrontations and outbreaks of lawlessness in Hong Kong could damage its reputa...
Read more »