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Hong Kong’s dollar strengthens toward higher end of trading band against US dollar as interbank rate rises

Hong Kong’s borrowing costs are stuck near decade-highs, adding momentum to the local currency.The Hong Kong dollar traded in the stronger half of its band against the US dollar for the first time since September, rising as much as 0.18 per cent to 7.7995.While local interbank rates dipped Tuesday, the cost to borrow the currency remains higher than the income a trader can expect on US dollars. That’s killing the Hong Kong dollar carry trade by making money more expensive in the city.Rates are… Source link

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CITIC Securities Brokerage HK strengthens its wealth management platform

[Sponsored Article] “In the past six months, we have shifted our focus towards wealth management services,” says Tony Leung, Chief Executive Officer of CITIC Securities Brokerage HK. “As the market evolves, we have seen growing number of clients with greater demand on sophisticated wealth management products.  As such, client demands lead us to gradually transform the company from traditional securities brokerage business to wealth management.” Strong demand for wealth management services … Source link

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