- August’s 3-month SORA was down 3bps m-o-m to 3.60%, the lowest since April 2023, and 6bps lower than the 2Q24 average. 3-month SORA has been hovering around the 3.6% range since Jan 2024. 3-month HIBOR was down 38bps m-o-m in August to 4.31%, a continuation from the decline of 6bps in July.
- - Read this at SGinvestors.io -
- Maintain OVERWEIGHT. Banks' share price performance was mixed in August, mainly due to the impact of the Yen carry trade. DBS's share price was the only positive, with an increase of 1%, while OCBC's share price and UOB's share price both dipped by 2%. We remain positive on banks.
3-month SORA and 3-month HIBOR continue to dip
- - Read this at SGinvestors.io -
- Hong Kong interest rates fell in August. The 3-month HIBOR was down 38bps m-o-m to 4.31%, a continuation from the decline of 6bps in July. Furthermore, August’s 3M- HIBOR dipped by 67bps y-o-y and was still 34bps lower than the 2Q24 3-month HIBOR average of 4.65%. Notably, this is the lowest the 3-month HIBOR has been since April 2023.
Singapore loan growth reaches 21-month high
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Paul Chew Phillip Securities Research | http://www.poems.com.sg/ 2024-09-19
More reports on banking & finance sector:
Analyst Reports on Singapore Banking & Finance Sector
Read also:
Analyst Reports on DBS Group
Analyst Reports on OCBC Bank
Analyst Reports on United Overseas Bank (UOB)
