Hong Kong dollar interbank interest rates diverged, with the one-month rate rising for two consecutive days to reach 3.51179%, reaching a new high for the week.

Although the Hong Kong stock market plummeted by 3000 points yesterday, the Hong Kong currency market remains stable, with some developments today. The overnight interest rate increased by nearly 4 basis points to 3.08333%, while the one-month interbank offered rate related to property continued to rise for two consecutive days, reaching 3.51179%, hitting a one-week high. The three-month interbank offered rate, which reflects the cost of bank funds, also rose for two consecutive days to 3.8%, but the six-month rate slightly decreased to 3.84333%, while the one-year rate remained at 3.95518%. President Trump's tariff policy continues to impact the financial markets, but traders speculate that the Fed may cut interest rates in May. The US dollar exchange rate fluctuated on Monday, with the Hong Kong dollar rate ranging from 7.7667 to 7.7715 this morning, now at 7.7708, a decrease of 0.04% from the previous closing price. Trump stated that he will not suspend the implementation of retaliatory tariff measures and announced on social media last night (7th) that if China does not withdraw the additional 34% tariff on the US by Tuesday (8th), the US will impose an additional 50% tariff on China starting from Wednesday (9th). A spokesperson from the Chinese Ministry of Commerce responded firmly, stating that China strongly opposes this and if the US continues on this path, China will fight back to the end.