 |
March, 1999
| BANKING |
| |
Amount |
% change, yoy, unless otherwise stated |
| |
($bn) |
Monthly |
Quarterly |
Yearly |
| |
1/99 |
1/99 |
12/98 |
Q4/98 |
Q3/98 |
Q2/98 |
Q1/98 |
1998 |
1997 |
1996 |
| HKD M0 (in HKD) |
82.1 |
(15.0) |
0.7 |
0.7 |
(2.0) |
(3.1) |
(0.2) |
0.7 |
5.3 |
7.3 |
| HKD M1 (in HKD) |
177.5 |
(7.6) |
(5.2) |
(5.2) |
(17.2) |
(17.0) |
(6.5) |
(5.2) |
(5.1) |
15.5 |
| HKD M2 (in HKD) |
1,799.3 |
9.8 |
9.9 |
9.9 |
3.6 |
0.4 |
7.8 |
9.9 |
9.9 |
19.3 |
| HKD M3 (in HKD) |
1,810.9 |
9.4 |
9.4 |
9.4 |
3.2 |
0.3 |
7.5 |
9.4 |
9.9 |
18.9 |
| Spread (Prime-Hibor3) (pa) (%) |
na |
2.96 |
3.73 |
3.63 |
0.18 |
2.32 |
1.29 |
1.86 |
1.71 |
3.07 |
| Res. mortg. loans outstanding |
|
|
|
|
|
|
|
|
|
|
| (before adjusted to reclassification) |
na |
9.2 |
9.6 |
9.6 |
9.4 |
16.9 |
23.3 |
9.6 |
28.3 |
18.9 |
| (after adjusted to reclassification) |
461.0 |
na |
na |
na |
na |
na |
na |
na |
na |
na |
| Loans-to-Deposits Ratio (pa) (%) |
|
|
|
|
|
|
|
|
|
|
| (Total) |
na |
109.3 |
111.9 |
114.4 |
120.4 |
135.7 |
144.5 |
128.8 |
158.1 |
164.2 |
| (HKD) |
na |
101.1 |
100.6 |
101.2 |
105.1 |
112.1 |
113.2 |
107.9 |
110.3 |
106.0 |
| Foreign Currency Reserves^ (in US$bn) |
90.1 |
90.1 |
89.6 |
89.6 |
88.4 |
96.5 |
96.8 |
89.6 |
93.2 |
69.6 |
| |
|
|
|
|
|
|
|
|
|
|
| Deposits |
2,954.8 |
10.6 |
10.9 |
10.9 |
6.2 |
1.7 |
6.8 |
10.9 |
8.4 |
10.2 |
| HKD Deposits @ |
1,666.2 |
10.8 |
9.7 |
9.7 |
2.6 |
(0.6) |
7.3 |
9.7 |
9.8 |
19.5 |
| FC Deposits # |
1,288.6 |
10.5 |
12.6 |
12.6 |
11.3 |
4.9 |
6.0 |
12.6 |
6.6 |
(0.4) |
| |
|
|
|
|
|
|
|
|
|
|
| Loans & Advances |
3,231.0 |
(21.3) |
(19.8) |
(19.8) |
(21.4) |
(16.1) |
(5.5) |
(19.8) |
5.3 |
4.7 |
| Loans in HKD |
1,684.8 |
(3.0) |
(2.7) |
(2.7) |
(4.8) |
3.0 |
9.5 |
(2.7) |
20.4 |
16.9 |
| Loans in FC |
1,546.2 |
(34.7) |
(32.3) |
(32.3) |
(33.5) |
(28.5) |
(15.6) |
(32.3) |
(3.6) |
(1.4) |
| Loans for use in HK1 |
2,087.4 |
(6.3) |
(5.5) |
(5.5) |
(3.5) |
4.1 |
12.1 |
(5.5) |
22.6 |
16.0 |
| Loans for use outside HK2 |
1,143.5 |
(39.1) |
(36.7) |
(36.7) |
(41.1) |
(35.8) |
(23.0) |
(36.7) |
(9.8) |
(3.4) |
| |
|
|
|
|
|
|
|
|
|
|
| Loans for use in HK (eop) |
2,087.4 |
(6.3) |
(5.5) |
(5.5) |
(3.5) |
4.1 |
12.1 |
(5.5) |
22.6 |
15.9 |
| To purchase residential properties |
na |
na |
9.1 |
9.1 |
8.1 |
16.0 |
22.5 |
9.1 |
28.8 |
20.9 |
| Property Development & Investment |
na |
na |
(10.1) |
(10.1) |
0.7 |
7.3 |
18.8 |
(10.1) |
31.6 |
26.0 |
| Trade Finances1 |
na |
na |
(22.5) |
(22.5) |
(16.8) |
(9.7) |
(1.2) |
(22.5) |
4.3 |
6.7 |
| Financial Concerns |
na |
na |
(7.0) |
(7.0) |
(1.8) |
8.0 |
10.9 |
(7.0) |
26.2 |
16.7 |
| Wholesale & Retail Trade |
na |
na |
(13.6) |
(13.6) |
(4.8) |
(2.4) |
5.2 |
(13.6) |
15.7 |
6.3 |
| Manufacturing |
na |
na |
(15.5) |
(15.5) |
(10.8) |
(8.0) |
3.2 |
(15.5) |
3.8 |
7.6 |
| Credit Card |
na |
na |
13.7 |
13.7 |
20.7 |
26.6 |
31.9 |
13.7 |
29.0 |
17.3 |
| Consumer Finance Ħħ |
na |
na |
(11.7) |
(11.7) |
(11.3) |
1.0 |
2.7 |
(11.7) |
19.8 |
13.5 |
| PRIVATE CONSUMPTION |
| |
|
% change, yoy, unless otherwise stated |
| |
Amount |
Monthly |
Quarterly |
Yearly |
| |
12/98 |
12/98 |
11/98 |
Q4/98 |
Q3/98 |
Q2/98 |
Q1/98 |
1997 |
1996 |
1995 |
| Retail Sales |
(Value) |
$16.8bn |
(17.0) |
(19.7) |
(18.9) |
(19.4) |
(15.5) |
(13.3) |
4.9 |
6.3 |
4.6 |
| |
(Volume) |
na |
(14.0) |
(17.2) |
(16.7) |
(19.7) |
(16.3) |
(14.4) |
1.1 |
1.6 |
(1.4) |
| Restaurant Receipts |
(Value) |
$14.3bn(98Q3) |
na |
na |
na |
(4.4) |
(4.0) |
(5.0) |
6.0 |
5.0 |
4.7 |
| |
(Volume) |
na |
na |
na |
na |
(5.9) |
(6.7) |
(9.0) |
2.0 |
2.0 |
(2.0) |
| Department Store |
(Value) |
na |
(14.5) |
(31.9) |
(25.5) |
(26.6) |
(26.4) |
(26.9) |
(3.2) |
4.5 |
4.4 |
| |
(Volume) |
na |
(5.9) |
(28.6) |
(21.2) |
(28.5) |
(28.8) |
(29.2) |
(9.3) |
(1.5) |
(3.8) |
| Visitors Arrivals |
|
0.94mn |
11.1 |
5.1 |
5.5 |
10.5 |
(16.9) |
(24.9) |
(11.1) |
14.7 |
9.3 |
| PROPERTY |
| |
|
% change, yoy, unless otherwise stated |
| |
Amount |
Monthly |
Quarterly |
Yearly |
| |
12/98 |
12/98 |
11/98 |
Q4/98 |
Q3/98 |
Q2/98 |
Q1/98 |
1998 |
1997 |
1996 |
| Sales & purchase agreements |
|
|
|
|
|
|
|
|
|
|
| Value |
$45.8bn |
86.8 |
(36.0) |
39.0 |
(78.2) |
(64.8) |
(59.0) |
(54.3) |
83 |
79 |
| Number |
14.9thou. |
104.2 |
(1.9) |
18.0 |
(64.4) |
(52.3) |
(52.0) |
(50.2) |
39 |
51 |
| New res. mortg. approved of 33 AIs |
|
|
|
|
|
|
|
|
|
|
| Number, during the period |
7.5thou. |
74.4 |
50.9 |
29.9 |
(55.5) |
(60.1) |
(53.9) |
(34.9) |
18.5 |
68.5 |
| Value per loan, during the period |
$1.49mn |
(23.6) |
(18.5) |
(24.1) |
(28.6) |
(10.5) |
15.3 |
(12.0) |
27.2 |
6.8 |
| Private residential |
|
|
|
|
|
|
|
|
|
|
| Rental (official) |
na |
na |
na |
(26.8)e |
(21.5) |
(10.9) |
(3.8) |
(15.8)e |
13.5 |
(1.7) |
| Price (official) |
na |
na |
na |
(38.1)e |
(38.3) |
(25.2) |
(10.4) |
(28.0)e |
40.9 |
9.6 |
| HK |
$4,249/sf |
(32.3) |
(37.2) |
(37.6) |
(42.3) |
(26.5) |
(11.0) |
(29.4) |
na |
na |
| KL |
$3,850/sf |
(33.6) |
(40.2) |
(39.6) |
(44.8) |
(30.3) |
(12.8) |
(31.9) |
na |
na |
| NT |
$3,207/sf |
(30.1) |
(35.7) |
(37.2) |
(44.4) |
(32.8) |
(14.3) |
(32.2) |
na |
na |
| Rental yield (%) : |
|
|
|
|
|
|
|
|
|
|
| HK |
na |
4.27 |
4.31 |
4.35 |
4.43 |
3.99 |
3.68 |
4.1 |
3.7 |
na |
| KL |
na |
4.31 |
4.74 |
4.62 |
4.78 |
4.49 |
4.12 |
4.5 |
3.9 |
na |
| NT |
na |
3.81 |
3.72 |
3.83 |
3.90 |
3.56 |
3.20 |
3.6 |
3.1 |
na |
| Residential construction completed (sq.m.), ytd |
605thou.
Oct |
31.5
Oct |
37
Sep |
na |
42.3 |
(6) |
244 |
na |
(7) |
(13) |
| Res.l construction consent to start work (sq.m.), ytd |
1,101thou.
Oct |
(20.6)
Oct |
(27.0)
Sep |
na |
(29.8) |
(39) |
(26) |
na |
54 |
54 |
| MACRO INDICATORS |
| |
Amount |
% change, yoy unless otherwise stated |
| |
($bn) |
Monthly |
Quarterly |
Yearly |
| |
1/99 |
1/99 |
12/98 |
Q4/98 |
Q3/98 |
Q2/98 |
Q1/98 |
1998 |
1997 |
1996 |
| GDP |
na |
na |
na |
na |
(7.1) |
(5.1) |
(2.6) |
na |
5.3 |
4.6 |
| Composite CPI |
na |
(1.1) |
(1.6) |
(0.7) |
2.8 |
4.4 |
5.0 |
2.8 |
5.8 |
6.3 |
| Labour |
|
|
|
|
|
|
|
|
|
|
| Unemployment Rate (%) |
na |
5.8 |
5.7 |
5.5 |
4.9 |
4.4 |
3.5 |
4.6 |
2.2 |
2.8 |
| Unemployed ('000 people) |
na |
202.0 |
201.2 |
na |
179.4 |
143.7 |
106.2 |
na |
71.3 |
86.1 |
| External Trade |
|
|
|
|
|
|
|
|
|
|
| Total Exports |
106.9 |
(6.6) |
(13.6) |
(13.6) |
(10.3) |
(3.1) |
(1.0) |
(7.4) |
4.2 |
4.0 |
| Domestic Exports |
14.0 |
(8.9) |
(18.8) |
(19.0) |
(11.9) |
(3.6) |
(7.4) |
(10.9) |
(0.4) |
(8.4) |
| Re-exports |
92.9 |
(6.3) |
(12.7) |
(12.7) |
(10.1) |
(3.0) |
0.1 |
(6.9) |
5.0 |
6.6 |
| Total Imports |
107.5 |
(5.0) |
(17.1) |
(18.2) |
(15.5) |
(6.0) |
(5.1) |
(11.5) |
5.2 |
3.0 |
| Trade Balance (in $bn) |
(0.7) |
(0.7) |
(6.8) |
(8.1) |
(6.1) |
(35.0) |
(32.6) |
(81.4) |
(159.1) |
(137.8) |
^ Foreign Currency Reserves in Land Fund are not included before June 30, 1997.
 Consumer finance included individual private and business loans other than property purchases & credit card advance.
1 Loans to finance merchandising trade not touching HK would be included in trade finance & loans for use in HK.
2 Others loans where the place of use is not known would be included in loans for use outside HK.
| pa: Period averages |
@ adjusted to include swap deposits |
| # adjusted to exclude swap deposits |
eop: End-of-period |
| na: Not applicable |
e: Estimate |
This material is prepared by the Economic Research Department. Data on Hong Kong are obtained from the Census and Statistics Department & the Hong Kong Monetary Authority. It is based upon information which we consider reliable. Opinions expressed herein are subject to change without notice.
Chart 1: The 3-month changes of mortgage lending exceeded the 12-month average in January. It reflects growing activities in the property market.
Chart 2: A return of confidence is seen in the property market. However, prices will only grow at a steady pace, as the economy is still threatened by two highs - high unemployment and high real interest rates.
Chart 3: The gap between growth of total retail value and volume widens. This is due to slashes of retail prices.
|
|
