A seasonal cash demand spike in Hong Kong is set to lift funding costs, making it less attractive to pursue a carry trade using the local dollar, analysts said. Listed firms’ mid‑year dividend payouts and banks’ need to meet regulatory metrics have lifted funding demand. That surge has pushed the one‑month Hong Kong Interbank Offered Rate, or Hibor , to its highest level since January this week. A...
A seasonal cash demand spike in Hong Kong is set to lift funding costs, making it less attractive to pursue a carry trade using the local dollar, analysts said. Listed firms’ mid‑year dividend payouts and banks’ need to meet regulatory metrics have lifted funding demand. That surge has pushed the one‑month Hong Kong Interbank Offered Rate, or Hibor , to its highest level since January this week. A rising Hibor narrows the interest rate gap between the US dollar and Hong Kong dollar. Investors who previously borrowed cheap local dollars to buy higher-yielding greenback assets may unwind some of those trades, said Carie Li , a strategist at DBS Bank in Hong Kong. Unwinding these carry trades may ease short-term currency pressure. Higher interbank rates will also drive up household borrowing costs, including mortgage payments in a market heavily linked to Hibor. “Hong Kong dollar demand will increase due to seasonality, including half-year end and dividend payouts,” Li said. “If Hibor goes up, it may trigger an unwinding” of some carry trades and drive the US dollar down. The one-month Hibor will likely rise to a 3%-4% range in the coming months, Li estimated. The rate stood at about 2.68% Wednesday. The Hong Kong Monetary Authority, the de-facto central bank in the city, issued its largest overnight loans to banks in almost four months on Tuesday. That came after HK$920 million ($117 million) of discount-window lending . “When demand for HKD spikes, then borrowing from HKMA happens, meaning there is no ‘squeeze’ or issue in the system,” said Wee Khoon Chong , Asia Pacific market strategist at BNY. “So the HKMA lending is likely due to a technical factor.” Carry trades have pushed the Hong Kong dollar toward the weak end of its 7.75–7.85 band versus the US dollar. It’s nearing the weakest level since August as local stocks stay on track for their first annual drop in three years, intensifying capital‑outflow pressure.
Iran’s Revolutionary Guards Corps says it has targeted an airbase in Jordan hosting US forces, as well as Kuwait and Bahrain, in response to US strikes Trump launches strikes against Iran after downing of US army helicopter Nearly all the missiles and drones launched by Iran over the last few hours were intercepted, a US officials has told the Reuters news agency. The US official said that the mil...
Iran’s Revolutionary Guards Corps says it has targeted an airbase in Jordan hosting US forces, as well as Kuwait and Bahrain, in response to US strikes Trump launches strikes against Iran after downing of US army helicopter Nearly all the missiles and drones launched by Iran over the last few hours were intercepted, a US officials has told the Reuters news agency. The US official said that the military was not aware of any reports of harm to US personnel, or known damage to US locations at this time. Continue reading...
(RTTNews) - The Australian stock market is extending its early gains in mid-market moves on Wednesday after opening in the red, snapping a three-session losing streak, with the benchmark S&P/ASX 200 falling well below the 8,650 level, following the mixed cues from Wall Street ove
(RTTNews) - The Australian stock market is extending its early gains in mid-market moves on Wednesday after opening in the red, snapping a three-session losing streak, with the benchmark S&P/ASX 200 falling well below the 8,650 level, following the mixed cues from Wall Street ove
Nebius Group (NasdaqGS:NBIS) has launched the Physical AI Living Lab with NVIDIA, described as a first of its kind program for robotics startups in the UK and Europe. The program offers access to advanced physical AI simulation tools, synthetic data, and Nebius's full stack AI cloud infrastructure. The announcement extends beyond previous coverage that focused on Nebius's UK capacity expansion and...
Nebius Group (NasdaqGS:NBIS) has launched the Physical AI Living Lab with NVIDIA, described as a first of its kind program for robotics startups in the UK and Europe. The program offers access to advanced physical AI simulation tools, synthetic data, and Nebius's full stack AI cloud infrastructure. The announcement extends beyond previous coverage that focused on Nebius's UK capacity expansion and financial results. Nebius Group, listed as NasdaqGS:NBIS, is broadening its role in AI...
(RTTNews) - Asian stock markets are trading mostly lower on Wednesday, following the mixed cues from Wall Street overnight, as continuing uncertainty about the fragile ceasefire in the Middle East conflict and the related surge in crude oil prices is weighing on market sentiment.
(RTTNews) - Asian stock markets are trading mostly lower on Wednesday, following the mixed cues from Wall Street overnight, as continuing uncertainty about the fragile ceasefire in the Middle East conflict and the related surge in crude oil prices is weighing on market sentiment.
Earnings Call Insights: Lakeland Industries, Inc. (LAKE) Q1 fiscal 2027 Management View "Net sales for the quarter were $47.4 million, an increase of $0.7 million or 1.4% compared to $46.7 million in the prior year period, supported by 11% growth in Fire Services," said (President, CEO & Executive Chairman James Jenkins), adding, "Net income was approximately $0.4 million or $0.04 per basic and di...
Earnings Call Insights: Lakeland Industries, Inc. (LAKE) Q1 fiscal 2027 Management View "Net sales for the quarter were $47.4 million, an increase of $0.7 million or 1.4% compared to $46.7 million in the prior year period, supported by 11% growth in Fire Services," said (President, CEO & Executive Chairman James Jenkins), adding, "Net income was approximately $0.4 million or $0.04 per basic and diluted share." "Demand across our Fire Services platform remains encouraging," said (President, CEO & Executive Chairman Jenkins), highlighting "Our NFPA 1970:2025 certified head-to-toe fire portfolio" and calling the service platform "an important recurring revenue and customer retention opportunity," while also saying, "we are actively pursuing small strategic M&A candidates in attractive and growing geographies within North America." "We expect to open another ISP location in Denver, Colorado, and we are expanding our Arizona PPE facility in Phoenix," said (President, CEO & Executive Chairman Jenkins), and added, "We've also added a CO2 decontamination machine in Fresno, California, to enhance our decontamination capabilities." "During the quarter, we completed the divestiture of our high-performance FR and HiViz product lines for approximately $14 million in cash proceeds," said (President, CEO & Executive Chairman Jenkins), calling it a move that "simplified the business" and "strengthened our balance sheet." "We also strengthened our governance and executive team during the quarter with the appointment of Lee Rudow to our Board of Directors, the appointment of Calven Swinea as chief financial officer, and the appointment of Kevin Rae as executive vice president, EMEA Fire Sales," said (President, CEO & Executive Chairman Jenkins). "Adjusted gross margin was 33.6% compared to 35.2% in the prior year period," said (CFO & Secretary J. Swinea), while also noting, "Net cash provided by operating activities was $5.8 million in the quarter." Outlook "We continue to expect hig...