The Zhitong Finance App learned that Bank of Hong Kong stocks fell at the end of the session. As of press release, BOCHK (02388) fell 4.47% to HK$51.25; Standard Chartered Group (02888) fell 3.41% to HK$238.2; HSBC Holdings (00005) fell 2.97% to HK$160; and Dah Sing Bank Group (02356) fell 2.52% to HK$14.34.
According to the news, on September 15, the 10-year US Treasury yield rose to 5.031%, the highest level since 2007. According to reports, since the August inflation rate was still significantly higher than the Fed's target level of 2%, the market's expectations for the Fed to raise interest rates by 25 basis points have further heated up. According to the CME “Federal Reserve Watch” tool, the market currently predicts that the probability that the Fed will raise interest rates by 25 basis points at this meeting is over 92%.
Huatai Securities pointed out that in August, the Bank of Hong Kong index held back later. After a rapid rise in dividend trading last month, capital profits rebounded at the beginning of the month, compounded by emotional disturbances caused by the taxation of insurance proceeds purchased by the mainland in Hong Kong, the scale of repurchases by HSBC Holdings fell short of market expectations, and the decline in 1M Hibor interest rates. At one point, the banking sector significantly outperformed the Hang Seng Index. The mood has eased somewhat since mid-August. The Bank of Hong Kong's subsequent interest rate spread performance will depend on the pace of asset and liability repricing and the Federal Reserve's interest rate hike expectations.