Hong Kong Banks Boost Rates as Government Cools House Market
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HSBC Holdings Plc and Standard Chartered Plc raised Hong Kong mortgage rates for the first time since 2011, after the banking regulator tightened risk rules on concern a property bubble may undermine financial stability.
Shares in the city’s real estate developers fell, heading for their biggest drop in four months. The banks will raise home loan charges priced at the best lending rate by 25 basis points, starting today, they said in e-mailed statements yesterday.