Stocks Up 20% Globally, Best Since 2019, Can They Continue?

The MSCI’s world share index, a broad measure of global developed market equities, posted a 21.56% gain in 2023, its most in four years. The move was established in the run since October as investors bet central banks will begin cutting interest rates in 2024. The buying triggered short covering which exasperated the move higher. The big question as always with stocks, can they continue higher? There are many factors, the main one at this time is interest rates given … Continue reading “Stocks Up 20% Globally, Best Since 2019, Can They Continue?”

Hong Kong’s Monetary Authority Keeps Rates in Lockstep with Fed at 16 Year High 5.75%

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, left its base rate charged through the overnight discount window unchanged at 5.75%, tracking action by the U.S. Federal Reserve. The latest move kept borrowing costs in the city to the highest level since January 2008. Hong Kong raises rates in line with the Fed due to the Hong Kong Dollar’s peg to the US Dollar. Immediately after the announcement the Hong Kong’s one-month interbank offered rate (Hibor) soared … Continue reading “Hong Kong’s Monetary Authority Keeps Rates in Lockstep with Fed at 16 Year High 5.75%”

Hong Kong’s Monetary Authority Raises Interest Rates in Lockstep with Fed to 16 Year High

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, raised its base interest rate charged through its overnight discount window unchanged at 5.75 per cent, tracking action by the U.S. Federal Reserve. Last meeting it raised its benchmark interest rate for a tenth time, following the US Federal Reserve. The latest move kept borrowing costs in the city to the highest level since January 2008. Hong Kong raises rates in line with the Fed due to the Hong … Continue reading “Hong Kong’s Monetary Authority Raises Interest Rates in Lockstep with Fed to 16 Year High”

Hong Kong’s One-Week Hibor Interest Rate Rises to Highest in 16 Years

Hong Kong interbank interest rates rose across all tenors on Friday. The overnight interbank offered rate rising the most, to the highest in four weeks. Overnight Hong Kong interbank offered rates (Hibor) jumped 63.5 basis points (bps) to 4.88%. One-week Hibor rose 62 bps to 4.92% its highest in nearly 16 years. The day before the Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, left its base interest rate charged through its overnight discount window unchanged at 5.50 … Continue reading “Hong Kong’s One-Week Hibor Interest Rate Rises to Highest in 16 Years”

Hong Kong’s Monetary Authority Kept Interest Rates in Lockstep With Fed, Hibor Continues to Rise

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, left its base interest rate charged through its overnight discount window unchanged at 5.50 per cent, tracking action by the U.S. Federal Reserve. Last meeting it raised its benchmark interest rate for a tenth time, following the US Federal Reserve. The latest move kept borrowing costs in the city to the highest level since January 2008. Hong Kong interbank offered rate (Hibor) continues to rise. Hong Kong raises rates … Continue reading “Hong Kong’s Monetary Authority Kept Interest Rates in Lockstep With Fed, Hibor Continues to Rise”

Hong Kong’s Monetary Authority Raised Interest Rates 25bps Despite Banking Liquidity at 2008 Lows

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, raised its benchmark interest rate for a tenth time this year, following the US Federal Reserve, by 25 basis points to 5.55% on Thursday. The latest move brought borrowing costs in the city to the highest level since January 2008. Hong Kong raises rates in line with the Fed due to the Hong Kong Dollar’s peg to the US Dollar. The weakness in the HKD forced the bank to … Continue reading “Hong Kong’s Monetary Authority Raised Interest Rates 25bps Despite Banking Liquidity at 2008 Lows”

Hong Kong’s Monetary Authority Raised Interest Rates 25bps Lockstep with US Federal Reserve

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, raised its benchmark interest rate for a ninth time this year, following the US Federal Reserve, by 25 basis points to 5.25% on Thursday. The latest move brought borrowing costs in the city to the highest level since January 2008. Hong Kong raises rates in line with the Fed due to the Hong Kong Dollar’s peg to the US Dollar. The city’s top leader John Lee recently said that … Continue reading “Hong Kong’s Monetary Authority Raised Interest Rates 25bps Lockstep with US Federal Reserve”

Hong Kong’s Monetary Authority Raised Interest Rates 25bps Lockstep with US Federal Reserve

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, raised its benchmark interest rate for an eighth time this year, following the US Federal Reserve, by 25 basis points to 5.00% on Thursday. The latest move brought borrowing costs in the city to the highest level since January 2008. Hong Kong raises rates in line with the Fed due to the Hong Kong Dollar’s peg to the US Dollar. Hong Kong’s economy is not a strong position with … Continue reading “Hong Kong’s Monetary Authority Raised Interest Rates 25bps Lockstep with US Federal Reserve”

2023 Year of the Rabbit, What Does it Mean for You and Financial Markets

The lunar new year typically falls on the second new moon after the winter solstice and is celebrated in countries across East and Southeast Asia, including China, Korea, Japan, Vietnam, Singapore, and Taiwan. The year of the rabbit in the Chinese zodiac occurs every 12 years and the next one begins Sunday January 22, 2023. Lunar New Year is also known as the Chinese New Year or the Spring Festival when Asian communities around the world this year will say … Continue reading “2023 Year of the Rabbit, What Does it Mean for You and Financial Markets”

Hong Kong Hang Seng Closes Down 14.4% in Worse Year Since 2011

Hong Kong’s blue chip Hang Seng stock market ended down 14.4% to 19,781.4 in 2022, marking the worst year since 2011 with only South Korea’s Kospi down more out of the major Asian stock markets. On the last day of the trading year the Hang Seng was up +0.2% and +1.0% for the week. It has been a tumultuous year for Hong Kong investments and the third straight year of losses for the index. The damage from the implosion of … Continue reading “Hong Kong Hang Seng Closes Down 14.4% in Worse Year Since 2011”