HONG KONG, Sept 11 - HSBC Holdings will raise its mortgage rates in Hong Kong by a maximum of 50 basis points, a spokesperson for the bank said on Monday, as it tries to maintain its profit margin amid higher interest rates.
"We have decided to revise our mortgage rate following a recent review, which takes into account a range of factors, including HIBOR, our competitiveness and market pricing," the spokesperson said in a statement. Sun Hung Kai Properties slumped 9.5% after the Hong Kong property giant reported a 17% decline in underlying profit for the year ended June.
Interest rates in Hong Kong have been on the rise as its monetary policy moves in lock-step with the U.S., as its currency is pegged to the U.S. dollar.
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HSBC to raise mortgage rates in Hong Kong; property stocks fallBy Xie Yu and Selena Li HONG KONG (Reuters) -HSBC Holdings will raise its mortgage rates in Hong Kong by a maximum of 50 basis points, a spokesperson for ...
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Hong Kong Builders Sink on Sun Hung Kai Earnings, HSBC Rate PlanHong Kong property stocks suffered their biggest selloff in seven months, hit by disappointing earnings at the city’s top builder and a major bank’s reported plan to raise mortgage rates.
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