Hong Kong’s interbank liquidity is severely strained as local banks borrowed a record $707 million, the highest amount in over five years. The Hong Kong monetary authority, the city’s de-facto central bank, stepped in to offer temporary cash through its discount window. This surge in borrowing comes as demand for Hong Kong equities has increased significantly. The rally has put pressure on the financial system. The city’s funding costs have spiked to a near six-week high of 4. 07%.
#hongkong #financialnews #economy
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