The overnight Hong Kong dollar interbank rate soared nearly 123 basis points, ending an eight-day streak of declines in the one-month interbank rate.
Hong Kong stocks soared today, with the overnight Hong Kong dollar interbank offered rate rising by nearly 123 basis points to 3.8594%. However, other interbank rates did not see significant changes. Among them, the one-month interbank rate related to the property market ended an eight-day decline, slightly increasing to 3.9128%.
The market anticipates an improvement in US-China relations, leading to a big increase in the Hong Kong stock market today. The overnight interbank borrowing rate for the Hong Kong dollar surged by nearly 123 basis points to 3.8594%, but other interbank rates remained unchanged. The one-month interbank rate related to property mortgages ended an eight-day decline, slightly rising to 3.9128%.
Interbank rates for two months to one year remained unchanged for two consecutive trading days. The Hong Kong dollar exchange rate fluctuated between 7.7839 and 7.7864 this morning, with the latest rate at 7.7839, up 0.02% from the previous closing price.
The offshore Renminbi against the US dollar returned to the 7.32 level this morning. After opening 220 points or 1.1% higher, the Hang Seng Index briefly widened its gains to 468 points, surpassing the 20,000 mark and reaching a high of 20,052 points. The index is currently up 402 points at 19,986.
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