Overnight Hibor experiences the largest weekly decline since May! Analyst: Short-term financing costs in Hong Kong may have peaked.

According to the Wisdom Financial APP, the short-term financing costs in Hong Kong, China have dropped from their peak. As of Thursday, the overnight Hong Kong Interbank Offered Rate (Hibor) has fallen by 158 basis points this week after reaching its highest level this year on Monday, marking the largest weekly decline since May. Data shows that on Thursday, the overnight Hibor rose slightly by 12 basis points to 2.42%, but still significantly lower than the year's high of 4.65% reached on Monday; the one-month Hibor has fallen by 33 basis points to 2.97% this week, while the three-month Hibor has dropped by 22 basis points to 3.08%.