Hibor jump across the board despite rate cut, one-month rate at four-month high

Hong Kong interbank offered rates climbed across the board on Thursday, with the mortgage-linked one-month rate hitting the highest in more than four months, despite a cut in interest rate.

The one-month Hibor rose 15 basis points to 3.36 percent, a new high since early May, while the overnight gauge also jumped by the same pace to 3.06 percent. 

The three-month rate increased 10 basis points to 3.4 percent. 

The Hong Kong dollar also strengthened to around 7.77 against the greenback, above the middle point of its 7.75-7.85 trading band.