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The Monetary Authority borrowed 0.1 billion yuan from banks through the discount window.
The Hong Kong Monetary Authority disposed of 0.1 billion yuan of overnight liquidity to banks through the discount window last Friday (15th), and the funds returned today (18th), causing the total system balance of banks to fall to 44.799 billion yuan.
HKMA collaborates with Cyberport and banks to organize the 'SME Digital Technology Solutions Showcase Day'.
The Hong Kong Monetary Authority announced that yesterday, together with Hong Kong Cyberport, the Hong Kong Association of Banks, and the Hong Kong Chinese-funded Banking Industry Association, they held the "Digital Technology Solutions Showcase Day for Small and Medium Enterprises". Over 100 representatives from dining and retail trade small and medium enterprises, banks, and technology solution providers exchanged ideas on how the banking industry can support the digital transformation of small and medium enterprises through big data and technology. The Monetary Authority mentioned that currently, 7 banks have committed to launching fast-track loan products for small and medium enterprises that have applied for the "Digital Transformation Support Pilot Program", with approval within 5 working days, meeting the financial needs of small and medium enterprises in changing business operations and expanding into new business and markets.
Dah Sing Bank lowered the Hong Kong dollar prime rate by 25 basis points to 5.625%.
Dah Sing Bank announced that starting on November 11th (today), the annual interest rate for Hong Kong dollar savings deposits will be adjusted from 0.625% to 0.375%. The bank's most favorable Hong Kong dollar interest rate will be adjusted from an annual rate of 5.875% to 5.625%.
Trump returns to the White House, Da Xin Bank: maintaining a 'slightly bullish' view on the US stock market.
The results of the USA presidential election were announced on Wednesday, Trump was re-elected as the former USA president. The Economic Research and Investment Strategy Department of Deutsche Bank believes that although the valuation of US stocks is relatively high, the performance of leading technology companies in the recent period is strong or positive, which is expected to continue to boost the investment sentiment in the short term. In the medium to long term, it is also expected to benefit from interest rate cuts and the development of ai-related technologies. If the US job market remains robust and increases investors' confidence in a soft landing of the US economy, it will also help US stocks as a whole continue to outperform other mature markets. Deutsche Bank predicts that short-term usa bonds may be under pressure. Trump advocates expansionary fiscal policies, which may stimulate inflation.
The Hong Kong Monetary Authority has lowered the basic interest rate by 25 basis points to 0.5%.
After the usa Federal Reserve cut interest rates by 0.25 percentage points again, the Hong Kong Monetary Authority lowered the discount window base rate by 25 basis points to 5 percent. (wl/w)~
S&P: Downturn in commercial real estate in Hong Kong spreading to banks, small and medium-sized banks may be affected.
Rating agency Standard & Poor's Global stated that the commercial real estate industry in Hong Kong is facing the most severe downturn since the Asian financial crisis, expecting that some non-first and second-tier, as well as financially aggressive real estate companies will be most severely affected. Small banks closely associated with these real estate companies will also be affected. Standard & Poor's mentioned that non-first and second-tier real estate companies include mainly rental companies that own office and retail properties. If small real estate developers also participate in office and retail property projects, they are believed to face pressure. Small and medium-sized banks may underestimate the risk of non-performing loans in the real estate industry. Compared to large banks, small and medium-sized banks in Hong Kong may have a high exposure to real estate.
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