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Uncertainty remains regarding interest rate cuts. According to KPMG, a high interest rate environment is beneficial for the profitability of Hong Kong banks.
KPMG recently released a report on the Hong Kong banking industry in 2024, pointing out that the balance sheet of Hong Kong banks recorded moderate growth due to the higher interest rate environment in 2023, with significant increases in net interest margin and operating surplus.
In June, Hong Kong's mortgage for newly developed properties increased by nearly 1.8 times, reaching a 27-month high. The mortgage for existing properties also increased by nearly 40%.
According to the latest data from the Mortgage Referral Research Department and the Hong Kong Land Registry, the number of existing building mortgages in June was 4,943, an increase of 1,372 (38.4%) from May, reaching a new high in 8 months.
BOC HONG KONG HLDG To Go Ex-Dividend On July 3rd, 2024 With 2.92398 USD Dividend Per Share
July 1st (Eastern Time) - $BOC HONG KONG HLDG(BHKLY.US)$ is trading ex-dividend on July 3rd, 2024.Shareholders of record on July 3rd, 2024 will receive 2.92398 USD dividend per share on July 22nd, 202
Goldman Sachs rates BOC Hong Kong (02388) as a 'buy' with a target price of HKD 30.1.
Goldman Sachs suggests that the net interest margin of BOC Hong Kong may be relatively stable.
BOC Hong Kong: Fed cautious about inflation decline, be wary of volatility in US stocks.
The US interest rate decision reflects the Federal Reserve's cautious attitude towards the progress of inflation decline, and it needs time to observe before starting the interest rate cut cycle.
BOC Hong Kong (02388): The Cheers Card overseas spending increased by nearly 50% YoY in the first quarter.
BOC Hong Kong (02388) stated that its credit card business has continued to grow steadily, with total quarterly spending reaching a new high this year, with the most significant increase in spending in the travel category.
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Momentum Trader : Banks keep printing new highs in HK, MY, SG and JP ! Money parking in safe haven