November 14, 2019 / 3:41 AM / a month ago

Hong Kong interbank rates rise ahead of huge Alibaba listing

HONG KONG, Nov 14 (Reuters) - The Hong Kong Interbank Offered Rate (HIBOR) rose across the curve on Thursday after Chinese e-commerce giant Alibaba Group launched a $13.4 billion listing in the city.

The one-week rate rose to 3.1%, the two-week tenor to 3.34%, and the one-month rate to 2.75% - their respective four-month highs.

Alibaba Group launched its Hong Kong secondary share sale on Wednesday, braving unrest in the global financial hub to fund its expansion plans. The stock is due to start trading on Nov. 26, according to a term-sheet seen by Reuters.

Reporting by Noah Sin and Donny Kwok; Editing by Kim Coghill

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