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Interest rates

As global debt nears US$100 trillion, IMF urges action

International Monetary Fund economists warn that failure to address rising debt could lead to ‘significant spillovers’ for the world economy.

2 hours ago

China’s central bank to cut reserve ratio, bolster property and capital market

18 Oct 2024 - 5:36PMvideocam

Hong Kong eases mortgage lending restrictions to jump-start market

16 Oct 2024 - 7:37PMvideocam

Data centres push Asia’s cross-border property investment towards 2-year high

Anticipated growth of 50 per cent will drive 2024 cross-border investments to about US$48 billion, according to Knight Frank.

16 Oct 2024 - 3:56PM

A pedestrian passes construction sites in Tokyo on September 18, 2024. Photo: Bloomberg

Chinachem to sell Hong Kong flats at 2016 levels as recovery proves elusive

Developers still need to offer discounts as market purchasing power is still not sufficient, according to Martin Wong at Knight Frank.

15 Oct 2024 - 7:36PMvideocam

From Fila to Armani, brands snap up prime Hong Kong retail spaces

With rents as much as 65 per cent below historical highs, brands from Europe, the US and Japan see a chance to make a splash.

14 Oct 2024 - 8:30AM

Sun Hung Kai’s Cullinan Sky sees another weekend of brisk sales

Quantitative easing and a slew of economic stimulus measures from Beijing have increased buyer confidence, agents say.

12 Oct 2024 - 8:15PM

Potential homebuyers look at a model of the Cullinan Sky Phase 1 at Sun Hung Kai showroom. Photo: Handout

Leading Hong Kong developer prices flats at 20% below development cost

Li Ka-shing’s flagship developer has priced the first batch of flats at an average of HK$21,526 per square foot, below the HK$28,000 development cost.

10 Oct 2024 - 5:00PM

Hong Kong consumers struggle with bills and loans despite rising incomes: study

Rising incomes in Hong Kong are not easing financial stress, with 25 per cent of people unable to pay bills fully.

9 Oct 2024 - 4:30PM

Hong Kong’s housing market lacks key ingredients to halt losses

Lower financing costs and greater wealth effect from stock gains are needed to overcome another year of declines in home prices, analysts say.

9 Oct 2024 - 10:00AMvideocam

More policy support are needed to overturn a 6.2 per cent drop in home prices this year. Photo: May Tse

Editorial | Time will show worth of strategy laid out by China’s top economic planner

Plan unveiled by the National Development and Reform Commission adds to confidence that China’s 5 per cent growth target can be met.

14 Oct 2024 - 1:56PMvideocam

Chairperson of China’s National Development and Reform Commission (NDRC), Zheng Shanjie (third from left), attends a press conference in Beijing on Tuesday. Photo: EPA-EFE

Hong Kong developers plan nearly 18,000 new flats amid rate cuts

The government has approved presale consent for several projects, with developers eager to offload unsold inventory.

8 Oct 2024 - 9:21AM

HSBC sees 6 US rate cuts until June in boon for Hong Kong’s economy

Lower rates will benefit the city’s economic recovery, but there has been no immediate increase in demand for loans, HSBC Hong Kong CEO Luanne Lim says.

7 Oct 2024 - 8:00AM

Hong Kong developer Lai Sun’s property project lapped up by buyers

Buyers flock to Lai Sun’s The Parkland in Yuen Long, snapping up nearly all units amid rate cuts and stock market gains, boosting market confidence.

6 Oct 2024 - 5:52PM

Lai Sun Development put 98 units on sale at The Parkland residential project on Sunday. Photo: Jonathan Wong

Homebuyers flock to Sun Hung Kai’s Cullinan Sky project in Kai Tak amid rate cut

As of 7pm, homebuyers snapped up 204 flats out of the 300 units on offer at Cullinan Sky Phase 1.

5 Oct 2024 - 7:24PM

Homebuyers pack Sun Hung Kai Properties’ sales office for Cullinan Sky Phase 1 at the ICC in West Kowloon. Photo: Jonathan Wong

India’s stock market set for surge with high-profile IPOs ahead of Diwali

India’s stock market is set for a surge in IPOs, thanks to the US Fed’s rate cut and during the festival season, with new listings expected to raise US$5 billion.

4 Oct 2024 - 1:13PMvideocam

Hong Kong’s MPF makes US$19 billion in first 9 months fuelled by market rally

Fuelled by interest rate cuts and China’s stimulus measures, the market rally took MPF’s total assets to a record HK$1.327 trillion.

4 Oct 2024 - 9:29AMvideocam

Hong Kong property deals bottom out in September, but October is looking better

Sales of new and lived-in homes, offices, shops, car parks and industrial spaces dropped 18.7 per cent to 3,843 units in September.

3 Oct 2024 - 6:33PM

A construction site in Kai Tak. Photo: Xiaomei Chen

Macroscope | Why ‘bazooka’ stimulus alone won’t fix what ails China’s economy

Markets aside, the economy faces structural challenges. Beijing favours an unbalanced growth mix that makes it harder to boost demand.

3 Oct 2024 - 4:30PMvideocam

Fed rate cut could propel Hong Kong to top 3 on global IPO table by year-end

Lower rates will drive investors away from US dollar assets towards Hong Kong and Chinese markets, with Beijing’s recent stimulus acting as a catalyst.

3 Oct 2024 - 8:30AMvideocam

Hong Kong property investors to keep powder dry as rate cut fails to tempt

‘I would not say an interest-rate-cut cycle has begun,’ expert says. ‘Therefore, we won’t be seeing many investors entering the market.’.

30 Sep 2024 - 10:30AM

A view of Tung Chung Reclamation, Tung Chung New Town Development, on June 17, 2024. Photo: Jelly Tse

Rising bad debts on Hong Kong commercial property ‘a concern’: HKMA CEO

The increase is ‘not alarming’ as the banking system is robust enough to handle the uptick, according to Eddie Yue.

30 Sep 2024 - 9:30AM

The vacancy rate for grade A office buildings in Hong Kong soared to 14 per cent in June, the highest point since 2004, according to CBRE. Photo: Yik Yeung-man

Wealthy Asians drawn to Hong Kong’s varied investment choices: Citibank

High-net-worth individuals from mainland China and Asia use Hong Kong to invest their wealth as they seek wider investment choices and better returns.

2 Oct 2024 - 2:30PM

Hong Kong developers have best day since May as 200 flats snapped up on rate cut

Hong Kong saw the most number of new flats sold on a single day since May as market sentiment improved after a rate cut by the HKMA.

28 Sep 2024 - 9:46PM

Macroscope | Can central banks really prevent a repeat of the Great Depression?

As we wrestle with challenges similar to those before the 1920s slump, let’s not rely on central bankers to save us from economic calamity.

28 Sep 2024 - 4:30PM

US dollar and Chinese yuan banknotes are seen in this illustration taken on January 30, 2023. Photo: Reuters

Hong Kong developer Lai Sun tempts buyers with rock-bottom prices

The first batch of 50 units at The Parkland in Yuen Long has an average price of HK$9,278 per square foot.

26 Sep 2024 - 6:31PM

The Parkland, located at 266 Tai Kei Leng in Yuen Long, is a 12-storey building with 112 units. Photo: Handout

Hong Kong home rents surge to near record highs as flat prices sink

A seasonal influx of renters and bets on further declines in home prices are driving the trends, analysts say.

26 Sep 2024 - 6:17PM

Hong Kong’s biggest bank earmarks loans to help small borrowers

Initiative aims to ease access to capital for entrepreneurs who are looking to invest at the beginning of a rate-cut cycle.

25 Sep 2024 - 5:16PM

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Interest rates

An interest rate is the amount charged by banks to borrowers for any loan, which is a percentage of the principal. It is an important monetary tool for central banks to control inflation and boost economic growth. The Hong Kong Monetary Authority maintains its official base rate in lockstep with the US Federal Reserve because the Hong Kong dollar has been pegged with the US currency since 1983. Hong Kong commercial banks can decide when to change their prime lending rate and deposit rate, which may differ in terms of timing and margin of change.

last updated:

2 October, 2024