HKEX surged yesterday, reaching a high of 7.7982 Hong Kong dollars, and retreated to 7.8064 in the evening
Wen Jiawei, an economist at Dah Sing Bank (02356) pointed out that the global economic slowdown has bottomed out, market risk appetite has improved, and funds have flowed into emerging markets again, making estimates The Hong Kong dollar assets with low value benefited, which also boosted the exchange rate and interest rate.
He expects that the one-month interest rate will remain at about 2.2% in the next few weeks, while the Hong Kong exchange rate will hover around the 7.8 level
Zhuo Liang, director of economic and strategic research at Nanyang Commercial Bank, pointed out that the Fed ’s interest rate has suddenly changed after the discussion and stated that the interest rate for the next year will remain unchanged. In contrast, Hong Kong ’s interest rate will continue to be high due to the annual settlement effect. The situation is difficult to reverse for the time being, making carry trades to expedite the liquidation of positions, pushing up the exchange rate and interest rate.
However, Zhuo Liang expects that after the end of the year, the Hong Kong dollar interest rate will gradually fall; the Hong Kong-US interest rate spread will begin to narrow, so it is expected that the interest rate and the exchange rate of the exchange rate will be reduced.
Nanshang Anniversary Celebration
The three Hong Kong silver buckets grab new year’s new money. Nanshang celebrates its 70th anniversary and launches the “70th Anniversary Reward Time Deposit” with an annual interest rate of 2.6% for 70 days. Bank of Communications Hong Kong added a short-term deposit of 0.01% and a new interest rate of 2.79%. Chiyu pushed yesterday for 38 days