Hong Kong property market gets reprieve on rates, but position remains precarious
Hong Kongโs property market dodged an immediate hit from the Federal Reserveโs rate hike on Thursday as major local banks kept their prime rates unchanged, but another increase could puncture the marketโs relatively fragile recovery, according to industry insiders. The Fed raised its benchmark rate by a quarter point at its latest meeting on Wednesday in the US, but HSBC and other major Hong Kong banks left their prime rates unchanged. The decision should have no immediate impact on the local...