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HKAB Refuses to Comment on HSBC's Privatization of Hang Seng Bank, But Welcomes Major Banks' Continued Investment in HK
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The US Fed's 0.25% interest rate cut was in line with market expectations, said John Tan, acting chairperson of the Hong Kong Association of Banks (HKAB). Some Hong Kong banks also announced a 0.125% HKD prime rate cut today (30th), though market expectations for a US rate cut in December have cooled, and there remains uncertainty in the US interest rate trend, Tan added. Regarding HSBC HOLDINGS (00005.HK)'s plan to take HANG SENG BANK (00011.HK) private, Tan stressed the HKAB won't comment on a commercial decision made by individual banks, but he is glad to see the opportunities bought by Hong Kong with its unwavering position as an international financial center, and the continued investment by major banks in the city. AAStocks Financial News |
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