The confidence index of the United States rose week-on-week to 54.5 points
1min read The confidence index of the USM rose 1.5% week-on-week to 54.5 points. The chief analyst of USM, Louis Lau, pointed out that the confidence index rebounded week-on-week, but still fluctuated between 52 and 55 points. As for the Hong Kong banks' 0.25% cut in interest rates, which was beyond market expectations, its impact will be reflected in the confidence index to be released later.
According to the discount rate ratio on the USM's website, the discount rate ratio of the three districts in Hong Kong is the highest in the New Territories. If divided into smaller districts, the three districts with the highest discount rate ratio have remained unchanged for two consecutive weeks, namely Tsuen Wan, Tin Shui Wai and Hung Hom.
If divided by unit area, the highest discount rate ratio is for B-class units with a usable area of about 431 to 752 square feet; the second is for A-class units with a usable area of 430 square feet or less; and the third is for C-class units with a usable area of 753 to 1075 square feet.
As for property prices, the USM property price index rose 0.02% week-on-week to 127.84 points, ending 13 consecutive weeks of decline. However, the index is still 1.93% lower than four weeks ago, with a year-on-year decline of 7.07%. As for the impact of last week's interest rate cut on Hong Kong property prices, it is believed that it will gradually be reflected in the property price index to be released in the middle of the month.
If divided into three districts, the property prices of the three districts rose or fell week-on-week. The USM property price index for Kowloon rose 0.33% week-on-week to 131.99 points; the USM property price index for Hong Kong Island fell 0.04% week-on-week to 133.96 points; and the USM property price index for the New Territories fell 0.2% week-on-week to 117.48 points. As for the year-on-year change in property prices, all three districts have fallen, with a 9.73% year-on-year decline in Hong Kong Island, a 5.42% year-on-year decline in Kowloon, and a 7.49% year-on-year decline in the New Territories.