Hong Kong interbank rates edge higher, ending recent slide

Hong Kong interbank offered rates rose across the board on Friday, with only the one-year tenor staying flat.

The one-month Hibor, which is closely tied to mortgage rates, climbed about 1.8 basis points to 3.515 percent, snapping a five-day losing streak. Overnight Hibor also gained 2 basis points to 3.62 percent.

The three-month tenor, a key gauge of bank funding costs, rose for a second consecutive session, adding 4.9 basis points to 3.589 percent, the highest in more than a week.

STAFF REPORTER