OCBC Wing Hang Bank launched a new 388-day Hong Kong dollar time deposit offer yesterday (22nd), with an annual interest rate of 3%, which is the highest interest rate level among time deposits of more than 12 months in the city. The minimum deposit amount for this promotion is HK$200,000, and it is applicable to new funds of "OCBC Wing Hang Prestige Wealth Management" customers. This is a new deposit period introduced by the bank, which was limited to a maximum of 12 months in the past. Currently, ICBC (Asia) also offers a 388-day Hong Kong dollar time deposit discount, with an annual interest rate of up to 2.6%. At the same time, the annual interest rate of the 12-month Hong Kong dollar time deposit was increased from 2.45% to 2.8%.
Hong Kong banks regularly have high interest rates this shows that over the next year things are about to cool down and stock price especially the HKEX listed stocks will be on downward spiral..be careful when investing...
But for long term investor this is time for shopping $Alibaba(09988)$$TENCENT(00700)$$XIAOMI-W(01810)$ etc at discounted price
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- HilaryWilde·2022-06-24Your post is very informative, thanks for sharing.LikeReport
- cfybao·2022-06-24When banks offer high interest fixed deposit, market will perform badly.LikeReport
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