August 20, 2025 10:00 PM GMT Hong Kong Macro Strategy, Economics, Property and Banks | Asia Pacific Is the HIBOR Spike a Headwind? 1m HIBOR has spiked from 0.91% to 2.86% amid a low aggregate balance and adjustment of market positioning. 1m HIBOR could go back to the 3% range, which would be a headwind for 2H25 GDP and HK banks' credit quality, but could also support banks' NII. We remain constructive on the HK residential market. Where is the fair level for HIBOR? HIBOR and HKD have moved sharply higher in ...