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<HK Home>Eddie Yue: HK Home Prices Appear to be Stabilizing w/ Deal Uptick; Negative Equity Cases To Likely Ebb
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Hong Kong Monetary Authority (HKMA) Chief Executive, Eddie Yue, told TVB News that local property prices seem to be stabilizing and transactions are picking up after the relaxation of mortgage policy, assuming that the number of negative equity cases will hopefully come down. Prior to this, the HKMA and Hong Kong Association of Banks (HKAB) had jointly set up the Taskforce on SME Lending and discussed issues related to SME lending and property mortgage lending at its first meeting. Yu commented that Hong Kong's banking sector is well provisioned, with a provision rate of 65%, and asset quality remains healthy, whereas banks' profits were quite decent in the past two years. Even if the provisions were raised, it did not bring pressure on the profits, opined Yu, thus thinking the overall risk is manageable. AAStocks Financial News |
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