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Reuters reports that Alibaba's.....>

HONG KONG STOCKS
HONG KONG STOCKS: Reuters reports that Alibaba's fintech arm Ant Financial are
planning a Hong Kong float as soon as 2020, targeting a $200bln valuation.
- That could be an IPO of considerable size for HK - and such floats often have
outsized impacts on HKD via interbank rates. On several occasions in 2019, HIBOR
rose sharply as markets anticipated cash demand in Hong Kong ahead of the IPOs
for both AB InBev (circa $5bln in September) and Alibaba (circa $15bln in
November).
- As such, it's likely a sizeable IPO from Ant Financial in Hong Kong would have
a similar impact and apply upward pressure to front-end HIBOR rates, thereby
tightening liquidity, strengthening the HKD and blowing out HKD forward rates.
- This isn't the first time we've heard of an Ant Financial IPO in HK - was
floated earlier this year in January.

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