Hong Kong’s three note-issuing banks – HSBC, Standard Chartered and Bank of China (Hong Kong) – will trim their prime lending rates for the first time since December, reducing funding costs and providing some relief to businesses and mortgage borrowers in the city. HSBC and the Hong Kong unit of Bank of China said on…
Hong Kong’s six biggest lenders lowered their prime lending rates for a third time this year, trimming borrowing costs to the lowest level in more than two years. HSBC and subsidiary Hang Seng Bank said they would trim their prime rate by 12.5 basis points to 5.25 per cent from Friday, the lowest since August…
Hong Kong banks’ unexpected prime rate cut on Friday will lower funding costs and bring more buyers into the market, with analysts expecting home prices in the city to bottom out “in the short term”. The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, lowered its base interest rate for the second…