Hong Kong Dollar (HKD) overnight lending rates fluctuated significantly, with one-month lending rates hitting a nearly four-month low.

On January 21st, the overnight Hong Kong Interbank Offered Rate (HIBOR) fluctuated significantly, dropping 80 basis points to 3.05071% after rising nearly 123 basis points the previous day. Other tenors of HIBOR remained relatively stable, with the one-month rate slightly decreasing to 3.9%, reaching a four-month low. Two-month to one-year HIBOR rates remained unchanged for three consecutive trading days.