The fourth quarter is over, and 18 large and small banks are fighting to increase the interest rate of Hong Kong dollar time deposits before the end of the quarter, which is more than the 16 last week. The finale catches up with the last train of 3 cents. In addition, Hang Seng increased the 7-day annual interest rate by 1.5% on October 1, and the new interest rate reached 6%, making it the king of high interest rates with Chiyou.
The most surprising part of the week was that the two note-issuing banks took turns to attack, including HSBC ( HSBC ) raising interest rates across the board, and Standard Chartered Hong Kong ( 02888 ) burying its hands in half . one year deposit period.
Similarly, Chiyu, Shanghai Merchants, CNCBI, DBS, Public Bank and Public Finance are also rushing to take advantage of the fast train of interest rate hikes, Chong Hing is offering a new half-year fixed deposit of 3.2%, and Wing Chinese Overseas Hang offers 188-day decline of 3.08% ICBC (Asia) added 388 days to 3.6%. Nanshang pushed 3.6% for 238 days. Citigroup and Bank of Communications (Hong Kong) added twice in the week, and Dah Sing (02356) added four more.
Australian dollar 1-year fixed deposit up to 3.05%, BOC expects Australia to raise interest rates by half a percentage point next week[tudalen nesaf]
Dismantling experts, the re-emergence of doubts about capital investment in Hong Kong, making the quarterly bank to play high interest rate cards, the long-haired paper money behavior that was lagging behind and increasing interest rates, hoping to whitewash performance, small and medium sized banks were forced to increase, in order to try to grab new year money, and avoid losing deposits and customers. Moreover, in September, foreign exchange stocks and bonds were killed three times, and hot money was eager to find fixed deposits that can protect the principal and earn interest as a safe haven.
For example, in terms of note-issuing banks, for a period of 3 months, BOC Hong Kong (02388) peaked at 1.8%, HSBC raised the new interest rate by 0.2% on 27 September (Tuesday), and the new interest rate reaching 1.7% Standard Chartered Hong Kong (02888) was 0.9 centimeters. In half-year terms, Standard Chartered also rose 0.2% to 2.6% on Tuesday, outperforming Bank of China’s 2.5%; HSBC increased 0.3% to 2.2%. In the 1-year period, Standard Chartered’s 2.8% was the king, narrowly beating BOC’s 2.7%, and HSBC’s increase from 0.3% to 2.5%.
In the big melee of Shake Week in September, there are 4 major highlights, namely:
(1) Leading paper money banks often raise interest rates: since May 24, June 2 and 20, July 4, August 4 and 22, and September 7, 13 and 27, HSBC has raised interest rates for the ninth time since then. more than four months. Judging from September alone, this is the third hit so far.
(2) Breakthrough rate reappears: CNCBI raised the half-year interest rate by 0.2% on Tuesday to a new high interest rate of 3.6%, and regained the top position in the half-year and one-year hegemony battles.
(3) Big and small banks are competing to prolong the battle: October has not started yet, and the deposit taking war has already begun Standard Chartered is the first to fire up the battle. As well as raising r deposit rate of 6 months, the closing date has also been extended from the end of September to the 10. end of the month.
(4) Chinese-funded enterprises are boldly advancing to the beach: Jiyou will launch 4 moves together. On September 29 (Thursday), the deadline for the highest interest rate king in the city and the short term deposit 7 days to enjoy 6% was originally arranged on September 9. At the end of the month, it has been extended until the end of the year; three new fixed deposit discounts have been successively introduced, namely: 3.3% for 98 days, 3.5% for 168 days, and 3.7% for 288 days. The minimum deposit is 200,000 yuan. The upper limit is 30 million yuan, which is suitable for all customers New money is needed, and branch channels are opened. The promotion period is until October 27, but the quota will expire.
Hong Kong dollar fixed deposit 6% high interest king deadline extended to the end of the year
An overview of the high interest rates for the last week, the biggest payment is the half year period. For the 3 month period, Fubon topped the list with 3.1% Hong Kong Bank of Communications, Citigroup and DBS competed to raise interest rates, all of which rose to 3% and remained second. Daxin returned to the top three with 2.9%.
In the half-year period, CNCBI increased by 0.2% and 3.6%, displacing Fubon to advance to the championship. Dah Sing rose 0.3% for 4 consecutive years, beating Fubon’s 3.5%, and both lines defended second place, narrowly beating Bank of Communications Hong Kong’s 3.3%.
In the 1-year period, it was the double champion, and CNCBI increased by 0.4%, coming first with Fubon at 3.7%. Public Finance increased by 0.25% to 3.55% on Tuesday. “Caizai” narrowly beat the parent company and rose; CCB Asia also rose to this level, and both banks were second.
Originally, Public Bank increased by 0.4% to 3.5% on September 26 (Monday), but unfortunately failed to enter the top three. As for Public Bank, it can only be 4th with 3.5%, and East Asia (00023) is also 5th with 3.4%.
In the whole city, Jiyou 7-day short-term deposit enjoys 6%, and HSBC wins the championship with 5% in 1 month.
In addition, compared to the 6 virtual banks only, the 1-month period topped the list with 1.5% of the Ping An OneConnect (PAOB) virtual bank in which Ping An (02318) participated. 3 months is 2.8% of AirStar Bank led by Xiaomi (01810). In the 4 month period, BOC Hong Kong, JD Digits and 3% Jardine’s Livi Bank earned the highest interest rate.
In semi-annual terms, Fusion Bank, which has a stake in ICBC (Asia), Tencent (00700) and the Hong Kong Stock Exchange (00388), topped the list with 3.2%, while Tianxing’s 3% took the top spot in 9 months. The tenure won the championship with Furong at 3.3%.
The future direction of the Hong Kong interest rate depends on the interest rate of the United States. In response to the query, Liao Jiahao, head of investment strategy and global wealth planning department of Citibank, indicated that the Federal Reserve is expected to increase the weekly interest rate cycle 3 times in this round, accumulating 1.5%, respectively, which will increase in November by 75 basis points, 50 basis points in December, and 25 basis points in February of the year next, bringing the final rate to 4.5 to 4.75 percent.
Sterling bursts to raise interest rates to grab customers, the highest interest rate on a 1 year fixed deposit is 3.18%[tudalen nesaf]
The one month interest rate fell to 2.6%. In response to the query, Zhuo Liang, chief economist of China CITIC Bank (International), noted that as the Federal Reserve maintains aggressive interest rate hikes and continues to support the US dollar exchange rate, the US dollar index is expected to have a chance to challenge the level of 115. As for the Hong Kong dollar interest rate, it is expected to rise again and again, and HIBOR will rise above 3% a month before the end of the year.
Another month and a half later, the HKMA received another 1.939 billion yuan, reducing the bank’s aggregate balance to 123.326 billion yuan on September 29. Since May, more than 215 billion yuan has been invested.
People who are averse to risk must also keep an eye on the chaos in the UK. Chen Zhengluo, senior investment strategist in Citibank’s wealth management business, told the media that the British pound fears that it will fall to 1. The Parliament is adjourned until November 23, when the Bank of England can raise interest rates by 1% or even 1.5% on November 3 to respond to the crisis.
By the way, Tianxing has just announced that its loss in the first half of the year narrowed to 97.75 million yuan. And ZA Bank officially opened for two and a half years, becoming the only virtual bank that provides banking, insurance and investment services at the same time, and is committed to creating a one-stop digital financial management experience. Rockson, CEO of ZA Bank, said that the number of users has exceeded 600,000, and four Hong Kong people who are “Gen Z” (ie, 20 to 29 years old) hold a ZA Card. Deposits totaled 8.2 billion yuan, an increase of 6% year on year; the loan balance exceeded 4.2 billion yuan, a sharp increase of 2.1 times year on year; the loan-to-deposit ratio rose to 52%, an increase of more than 30% year on year; net service fee and commission income exceeded 4,200 10,000 yuan, an annual increase of 85%.
ZhongAn anticipates further enriching its retail product lines in the second half of the year, including foreign exchange services, strengthening SME digital banking services, and optimizing insurance and wealth management businesses.
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Special reporter: Zeng Guifen
Responsible editor: Chen Chuyuan
