HIBOR broadly rises, one-month rate climbs for fifth straight day

Hong Kong interbank offered rates all went up on Wednesday, with one-month Hibor rising for five straight trading days.

The one-month gauge, closely linked to mortgage rates, increased by over 16.4 basis points to 2.97 percent.

The overnight rate jumped 55.76 bps to 1.92, while the one-week and two-week Hibor climbed 23.68 and 20.73 bps to 2.89 and 2.84 percent, respectively.

The three-month Hibor, which reflects the cost of bank funding, rose 5.69 bps to 3.2 percent.