Property-linked Hibor hits two-month high

The home-loan related interbank rate rose for the third consecutive day to 1.075 percent, a new high for about two months, diverging from the fall of other tenors.

The one-month Hong Kong Interbank Offered Rate inched up by 2 basis points today to 1.075 percent, staying above 1 percent for two consecutive days.

Over the past three trading days, the rate had increased by 36 bps.

The decline of one-month Hibor in June once helped boost the transactions in both the primary and secondary markets.

However, the overnight HIBOR retreated more than 4 bps to 0.04 percent. The three-month rate, which reflects the cost of funding for banks, edged down to about 1.815 percent, while the six-month rate fell below 2.4 percent.

STAFF REPORTER