摩根大通：倘若香港银行同业拆息持续走弱会怎样？

Asia Pacific Equity Research 30 May 2025 Hong Kong Banks What if HIBOR stays weaker for longer? HIBOR continues to trend down, but HK banks share prices have remained resilient. We now believe that HIBOR may stay below trend and the HIBOR- SOFR gap may be out of the normal ranges for months instead of weeks. We have refined our previously-published NII sensitivity analysis (link) to show potential earnings and shareholders' return downside if HIBOR rates from June to Dec stay at an average of 2.6%/2.0%/0.6% ...