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Free Malaysia Today
13 hours ago
- Business
- Free Malaysia Today
Hong Kong stocks edge down as investors eye funding conditions
Hong Kong benchmark Hang Seng was down 0.1%. (EPA Images pic) SHANGHAI : Hong Kong shares were slightly down today, as investors assessed the potential for tighter cash supplies and monitored tensions in the Middle East for a likely hit to sentiment. China stocks were mixed. China's blue-chip CSI300 Index was down 0.2% by the lunch break, while the Shanghai Composite Index gained 0.2%. Hong Kong benchmark Hang Seng was down 0.1%. The Hong Kong dollar slipped to 7.85 per US dollar today, hitting the weak end of its trading band for the second time since May 2023. The move may prompt the Hong Kong Monetary Authority to drain liquidity from the banking system to support the currency. 'Hong Kong market liquidity is unlikely to ease further and may even tighten as Hong Kong Interbank Offered Rates (HIBOR) have likely bottomed out and southbound inflows have slowed,' said Kevin Liu, strategist at China International Capital Corporation (CICC). The overnight HIBOR, a key barometer of liquidity, hovered near a record low at 0.01777%. 'Short-term liquidity tightening, uncertainties surrounding tariff negotiations, weakening economic data, and delays in policy support could all contribute to increased market volatility,' Liu said. Risk sentiment was further limited as global investors waited to see if Iran would retaliate against US attacks on its nuclear sites, with resulting risks to global activity and inflation. China's Coal Index rose 1.3%. Maritime shipping and port shares broadly rose, with Nangjing Port up to 10%. Hua Hong Semi listed in Hong Kong jumped 7%, after media reported that the US government weighs additional restrictions on China, including revoking waivers that allow global chip makers to access American technology in China.
Business Recorder
14 hours ago
- Business
- Business Recorder
Hong Kong stocks edge down as investors eye funding conditions
SHANGHAI: Hong Kong shares were slightly down on Monday, as investors assessed the potential for tighter cash supplies and monitored tensions in the Middle East for a likely hit to sentiment. China stocks were mixed. China's blue-chip CSI300 Index was down 0.2% by the lunch break, while the Shanghai Composite Index gained 0.2%. Hong Kong benchmark Hang Seng was down 0.1%. The Hong Kong dollar slipped to 7.85 per US dollar on Monday, hitting the weak end of its trading band for the second time since May 2023. The move may prompt the Hong Kong Monetary Authority to drain liquidity from the banking system to support the currency. Hong Kong market liquidity is unlikely to ease further and may even tighten as Hong Kong Interbank Offered Rates (HIBOR) have likely bottomed out and southbound inflows have slowed, said Kevin Liu, strategist at China International Capital Corporation (CICC). The overnight HIBOR, a key barometer of liquidity, hovered near a record low at 0.01777%. 'Short-term liquidity tightening, uncertainties surrounding tariff negotiations, weakening economic data, and delays in policy support could all contribute to increased market volatility,' Liu said. Risk sentiment was further limited as global investors waited to see if Iran would retaliate against US attacks on its nuclear sites, with resulting risks to global activity and inflation. China's Coal Index rose 1.3%. Maritime shipping and port shares broadly rose, with Nangjing Port up to 10%.
New Straits Times
15 hours ago
- Business
- New Straits Times
Hong Kong stocks edge down as investors eye funding conditions
SHANGHAI: Hong Kong shares were slightly down on Monday, as investors assessed the potential for tighter cash supplies and monitored tensions in the Middle East for a likely hit to sentiment. China stocks were mixed. China's blue-chip CSI300 Index was down 0.20 per cent by the lunch break, while the Shanghai Composite Index gained 0.20 per cent. Hong Kong benchmark Hang Seng was down 0.10 per cent. The Hong Kong dollar slipped to 7.85 per US dollar on Monday, hitting the weak end of its trading band for the second time since May 2023. The move may prompt the Hong Kong Monetary Authority to drain liquidity from the banking system to support the currency. Hong Kong market liquidity is unlikely to ease further and may even tighten as Hong Kong Interbank Offered Rates (HIBOR) have likely bottomed out and southbound inflows have slowed, said Kevin Liu, strategist at China International Capital Corporation (CICC). The overnight HIBOR, a key barometer of liquidity, hovered near a record low at 0.01777 per cent. "Short-term liquidity tightening, uncertainties surrounding tariff negotiations, weakening economic data, and delays in policy support could all contribute to increased market volatility," Liu said. Risk sentiment was further limited as global investors waited to see if Iran would retaliate against US attacks on its nuclear sites, with resulting risks to global activity and inflation. China's Coal Index rose 1.30 per cent. Maritime shipping and port shares broadly rose, with Nanjing Port up to 10 per cent. Hua Hong Semi listed in Hong Kong jumped 7 per cent, after media reported that the US government weighs additional restrictions on China, including revoking waivers that allow global chip makers to access American technology in China.
Mint
15 hours ago
- Business
- Mint
Hong Kong stocks edge down as investors eye funding conditions
SHANGHAI, June 23 (Reuters) - Hong Kong shares were slightly down on Monday, as investors assessed the potential for tighter cash supplies and monitored tensions in the Middle East for a likely hit to sentiment. China stocks were mixed. ** China's blue-chip CSI300 Index was down 0.2% by the lunch break, while the Shanghai Composite Index gained 0.2%. Hong Kong benchmark Hang Seng was down 0.1%. ** The Hong Kong dollar slipped to 7.85 per U.S. dollar on Monday, hitting the weak end of its trading band for the second time since May 2023. The move may prompt the Hong Kong Monetary Authority to drain liquidity from the banking system to support the currency. ** Hong Kong market liquidity is unlikely to ease further and may even tighten as Hong Kong Interbank Offered Rates (HIBOR) have likely bottomed out and southbound inflows have slowed, said Kevin Liu, strategist at China International Capital Corporation (CICC). ** The overnight HIBOR, a key barometer of liquidity, hovered near a record low at 0.01777%. ** "Short-term liquidity tightening, uncertainties surrounding tariff negotiations, weakening economic data, and delays in policy support could all contribute to increased market volatility," Liu said. ** Risk sentiment was further limited as global investors waited to see if Iran would retaliate against U.S. attacks on its nuclear sites, with resulting risks to global activity and inflation. ** China's Coal Index rose 1.3%. ** Maritime shipping and port shares broadly rose, with Nangjing Port up to 10%. ** Hua Hong Semi listed in Hong Kong jumped 7%, after media reported that the U.S. government weighs additional restrictions on China, including revoking waivers that allow global chip makers to access American technology in China. (Reporting by Shanghai Newsroom; Editing by Janane Venkatraman)
New Straits Times
28-05-2025
- Business
- New Straits Times
Hong Kong home prices snap falling streak in April
HONG KONG: Hong Kong's home prices ended four months of decline and edged up in April, government figures showed on Wednesday, as falling mortgage rates helped lift buying sentiment. BY THE NUMBERS Private home prices rose 0.4 per cent in April from the month before, following a revised 0.3 per cent fall in March, data from the Rating and Valuation Department showed. The prices have dropped 1.2 per cent so far this year to their lowest level since 2016. WHY IT'S IMPORTANT Home prices in Hong Kong, one of the world's most unaffordable cities, have tumbled nearly 30 per cent from a 2021 peak, hurt by higher mortgage rates, a weak economic outlook, and poor demand as many professionals have left the territory. Authorities tried to prop up the sector last year, lifting all curbs on property purchases and relaxing down payment ratios, but housing demand has remained soft. MARKET COMMENTS Realtors forecast home prices in 2025 could rise or fall by 5 per cent, depending on the pace of official rate cuts and the severity of trade tensions between China and the United States. Eddie Kwok, executive director of real estate consultancy CBRE, said if the interbank rate continues to fall, the residential property market may see a recovery as it may cost less to repay mortgage as compared to rent. CONTEXT One-month Hong Kong dollar interbank rate HIBOR, which many of the mortgage plans are linked to, hit a fresh three-year low this week, making mortgage rates more affordable for home buyers.
