StanChart Says Hong Kong Mortgage Rates May Rise, HKEJ Reports

Hong Kong mortgage rates may rise on increasing capital costs, the Hong Kong Economic Journal reported today, citing Benjamin Hung, chief executive officer of Standard Chartered Plc’s Hong Kong unit.

There will be rising competition among banks to attract deposits in the coming three months, the Chinese language newspaper cited Hung as saying.

To contact the reporter on this story: Sophie Leung in Hong Kong at sleung59@bloomberg.net

To contact the editor responsible for this story: Edward Johnson at ejohnson28@bloomberg.net

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