Investment Rating - The report maintains a "Buy" rating for BOCHK Holdings (2388 HK) despite the decline in HIBOR, indicating resilience in the stock [2]. Core Insights - HIBOR is at a three-year low, raising questions about its implications for the Hong Kong stock market. Strong local liquidity is supporting the market, even with rising HIBOR [1][4]. - The real estate market is expected to gain more support due to low HIBOR, while local banks may face declining net interest margins and slower income growth [4]. Summary by Sections HIBOR and Market Impact - HIBOR's decline is a significant factor influencing investor sentiment and market dynamics in Hong Kong [1][4]. - The report discusses the implications of HIBOR fluctuations on the stock market, local banks, and the real estate sector [4]. Company Ratings - BOCHK Holdings (2388 HK) is rated as a "Buy" due to its resilience despite the declining HIBOR [2]. - Sino Land (83 HK) has been downgraded to "Hold" due to increasing profit pressures [2]. Real Estate Market - The report highlights the growing resilience of the Hong Kong real estate market, suggesting a more stable foundation moving forward [2][4].
亚洲股票及利率网络直播：香港银行同业拆借利率下降-对港元资产的影响
Hui Feng Yin Hang·2025-05-30 07:20