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SGD/HKD News
Hong Kong's High Interest Rates May Persist Due to Uncertainty of Fed Rate Cuts
The Hong Kong Monetary Authority said high interest rates may remain for some time as it is uncertain when the US Federal Reserve will cut its interest rates, according to a Thursday press release by
Chung Yuan Mortgage: The interest rate reduction cycle in Hong Kong may start from the end of this year to the first quarter of next year.
Wang Meifeng said that the interest rate reduction cycle in Hong Kong has the opportunity to start from the end of this year to the first quarter of next year, and then the interest rate in Hong Kong may fall to 4% or below.
Hong Kong's Business Activity Contracts in May
Business activity in Hong Kong contracted once more in May after improving in March and April due to a fall in new orders and export conditions, according to data from S&P Global released Wednesday.
Hong Kong PMI Indicates Downturn in Business Conditions -- Market Talk
0121 GMT - The latest S&P PMI data for Hong Kong looks bleak, indicating a worsening of business conditions in the private sector in May. The headline PMI slid to 49.2 in May from 50.6 in April, signa
The HKD interest rate rose above 4% across the board for three consecutive trading days
On May 21, the HKD interest rate rose across the board for three consecutive trading days. Among them, the overnight interest rate rose above 4% to 4.06226%, reaching a new high of more than two weeks.
Hong Kong's GDP Growth Slows to 2.7% in Q1, Revised Figures Say
GDP during the preceding quarter rose by 4.3%, while the seasonally-adjusted GDP rose by 2.3%, the report said.
Hong Kong's GDP grew 2.7% year on year in the first quarter and remained unchanged at 2.5% to 3.5% for the whole year
On May 17, the Hong Kong Government published the “Economic Report for the First Quarter of 2024” and revised GDP figures for the first quarter of 2024.
Hong Kong's Exports, Imports Rise in March
Hong Kong's exports jumped 4.7% to HK$384.5 billion in March, compared with a 0.8% decline in February, data released by the city's census and statistics department on Thursday showed.
Hong Kong Census and Statistics Department: The overall value of Hong Kong's exports and imports in March increased by 4.7% and 5.3% year-on-year respectively
Foreign merchandise trade statistics released by the Statistics Department of the Hong Kong Government on April 25 showed that in March 2024, Hong Kong's overall export and import values both recorded year-on-year increases of 4.7% and 5.3%, respectively.
Hong Kong's Jobless Rate Accelerates to 3.0% in January to March
Hong Kong's seasonally adjusted unemployment rate quickened to 3.0% in the three-month period of January to March from 2.9% in December 2023 to February 2024 period, the Census and Statistics Department reported on Thursday.
The Hong Kong dollar rebounded slightly in the short term and fell 10 times in a row at the end of the one-month period
On April 15, the Hong Kong dollar interest rate rebounded slightly. Among them, overnight interest rates rebounded from a one-month low to 3.89048%. The one-month interest rate linked to the house price ended a ten-day decline. Today's report is 4.28643%.
Hong Kong Monetary Authority: As of the end of February, the total assets of the Exchange Fund were HK$4040.9 billion, down HK$5.7 billion from the previous month
As of February 29, 2024, the total assets of the Exchange Fund were HK$4040.9 billion, a decrease of HK$5.7 billion from the end of January 2024.
Hong Kong Sees Rise in Wage, Payroll in December 2023
Hong Kong's average wage rate for all surveyed industries rose by 3.8% year on year in nominal terms in December 2023, according to figures released by the Census and Statistics Department on Tuesday.
Hong Kong's Average Wage Rises 3.8% on Year in December 2023
Hong Kong's average wage in December 2023 rose 3.8% year over year in nominal terms, according to data from the city's census and statistics department released Tuesday. Adjusted for consumer price ch
Hong Kong's composite CPI rose 2.1% year on year in February, up 1.7% month on month
The Zhitong Finance App learned that on March 21, the Hong Kong Government Statistics Department announced the consumer price index for February 2024. According to the Composite Consumer Price Index, overall consumer prices in February 2024 increased by 2.1% compared to the same month a year ago, which is higher than the corresponding increase (1.7%) in January 2024. Excluding the impact of all one-time relief measures by the Hong Kong Government, the composite consumer price index increased by 1.2% year-on-year (i.e., the basic inflation rate) in February 2024, which is also higher than January 2024 (0.8%). The year-on-year increase is mainly due to the influence of the Lunar New Year in food prices
Hong Kong's GDP grew 4.3% in real terms year-on-year in the fourth quarter of 2023
According to preliminary statistics, the overall GDP increased by 4.3% in real terms in the fourth quarter of 2023 compared to the same period of the previous year, while the increase in the third quarter of 2023 was 4.1%. For the full year of 2023 compared to 2022, the gross domestic product increased by 3.2% in real terms.
Hong Kong Department of Administration: Over 100,000 people have arrived in Hong Kong through various talent entry schemes, including more than 40,000 talented people
On March 18, the Chief Secretary for Administration of Hong Kong, Chan Kwok-ki, said that by the end of February this year, various talent entry schemes had received more than 250,000 applications, about 160,000 had been approved, and more than 100,000 talents had arrived in Hong Kong.
Hong Kong Census and Statistics Department: Hong Kong's latest unemployment rate remains 2.9%
Jinwu Financial News | The Hong Kong Census and Statistics Department announced that Hong Kong's seasonally adjusted unemployment rate remained 2.9% from December 2023 to February 2024, while the underemployment rate remained at 1%. The total number of employed people was 3.6947 million, a decrease of about 2,300; the total working population was 3.797 million, a decrease of about 2,700; the number of unemployed was 102,300, a decrease of about 300; and the number of underemployed people was 37,600, a decrease of about 1,200.
Hong Kong Inflation Cools in January
Hong Kong's composite consumer price index rose 1.7% in January from a year earlier, down from the 2.4% on-year increase logged in December, the Census and Statistics Department (C&SD) reported Thursday.
The 7-day annualized return can reach 20%. Under the wave of interest rate cuts, the “benefits” of high interest rates on Hong Kong deposits are still there
Zhongan Bank's high interest rate on deposits reflects the current high deposit interest rate situation of many banks in Hong Kong.