Funds News
- HK's exchange fund assets hit 1.386 trillion HKD
Date: 3-Dec-2007 Sources: (Xinhua Online)
HONG KONG, Nov. 30 (Xinhua) -- Hong Kong's total assets of the Exchange Fund amounted to 1.386 trillion Hong Kong dollars (178.10 billion U.S. dollars) on Oct. 31, up 67.2 billion Hong Kong dollars (8.64 billion U.S. dollars) over September's figure, Hong Kong Monetary Authority said on Friday.
Foreign currency assets rose by 29.2 billion Hong Kong dollars (3.75 billion U.S. dollars) and Hong Kong dollar assets grew by 38 billion Hong Kong dollars (4.88 billion U.S. dollars), the authority said.
According to a press release from the authority, the rise in foreign currency assets was mainly due to foreign currency investments, interest and dividend income from foreign currency assets, purchases of foreign currencies and rise in unsettled securities, but partly offset by redemption of Certificates of Indebtedness.
The rise in Hong Kong dollar assets was mainly due to valuation gains in Hong Kong equities, placements received from fiscal reserves and a rise in the balance of the banking system, but partly offset by the sale of Hong Kong dollars for foreign currencies.
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