市场沸腾！DeepSeek 引爆港股抢购潮 香港银行现金告急
The demand for Hong Kong stocks has surged, leading to tight interbank liquidity and prompting Hong Kong banks to borrow the largest amount of overnight cash from authorities in over five years, reaching HKD 5.5 billion. Analysts point out that the tightening of liquidity is due to strong demand for Hong Kong stocks, which is expected to remain tight in the short term. Mainland Chinese investors purchased HKD 22.4 billion worth of Hong Kong stocks on Tuesday, marking the highest single-day purchase volume since 2021
According to the Zhitong Finance APP, the surge in demand for Hong Kong stocks has led to a decrease in interbank liquidity in Hong Kong, prompting banks in Hong Kong to borrow the largest amount of overnight cash from authorities in over five years on Tuesday.
Data compiled by Bloomberg shows that the Hong Kong Monetary Authority lent HKD 5.5 billion (USD 707 million) through the discount window, the highest level since December 2019.
Wee Khoon Chong, a strategist at Bank of New York Mellon, stated, "In our view, the tightening of liquidity in Hong Kong is driven by demand for Hong Kong stocks." Liquidity "may remain tight in the short term as the momentum in the Hong Kong stock market continues."
Due to optimistic market sentiment regarding DeepSeek's artificial intelligence capabilities, Hong Kong stocks have outperformed their global peers over the past month. The more optimistic market sentiment following the private enterprise symposium has also driven the stock market higher.
As trading volume in Hong Kong stocks surges, banks are intensifying efforts to borrow from the Hong Kong Monetary Authority.
Data compiled by Bloomberg shows that on Tuesday, mainland Chinese investors purchased HKD 22.4 billion worth of Hong Kong stocks, the largest single-day purchase volume since early 2021.
Stephen Chiu, Chief Asia FX and Rates Strategist at Bloomberg Intelligence, indicated that stock purchases outside of Hong Kong may also strain liquidity. Chiu noted that this could deplete banks' Hong Kong dollar funds, forcing them to seek temporary financing from the Hong Kong Monetary Authority
