The Zhitong Finance App learned that Bank of Hong Kong stocks were higher at the end of the session. As of press release, Standard Chartered Group (02888) rose 3.06% to HK$235.6; HSBC Holdings (00005) rose 1.73% to HK$152.5; BOCHK (02388) rose 1.19% to HK$51.1; and Dah Sing Bank Group (02356) rose 0.49% to HK$14.39.
According to the news, there are reports today that recently some banks have actively raised their mortgage rebates to 2% and 2.5%, which is significantly higher than the market level. Wang Meifeng, managing director of Zhongyuan Mortgage, said that bank increases in mortgage rebates are beneficial to efficiently absorb mortgage customers and target customer groups, and it is expected that more banks will increase their mortgage rebates to increase market competitiveness.
HSBC released a research report saying that against the backdrop of rising interest rates, weakening market activity and stricter regulations, the bank is more optimistic about local banks in Hong Kong than non-bank financial stocks. Because banks can directly benefit from rising net interest income, asset quality risks are still manageable. Investors questioned why the Bank of Hong Kong kept the Hong Kong dollar prime interest rate unchanged after the Federal Reserve raised interest rates by 25 basis points in September, the bank said. The bank believes that the incentives for the Bank of Hong Kong to raise the best interest rate are limited. If the Federal Reserve raises interest rates further from the fourth quarter of this year to 2027, the bank expects the HKD interest rate to rise, which will benefit the bank's net interest income.