Hong Kong interbank rates mostly rise

Hong Kong’s interbank offered rates rose mostly on Wednesday, with the mortgage-linked one-month Hibor edging up 0.2 basis point to 0.72958 percent, official data showed.

The three-month Hibor, a key gauge of funding costs, rose 2.6 basis points to 1.70589 percent, according to figures from the Hong Kong Association of Banks.

Meanwhile, the one-week rate rose 3.4 basis points to 0.19101 percent, and the two-week Hibor climbed 6.4 basis points to 0.36488 percent.

However, longer tenors continued to fall, with the six-month Hibor down 4.7 basis points to 2.32857 percent and the 12-month rate dropping 5.4 basis points to 2.90869 percent.

The overnight Hibor also slipped 0.8 basis points to 0.02000 percent.

STAFF REPORTER