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  • September 22, 2014
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  1. Business - Money - ASK MELANIE

    Should I switch my HK dollar savings?

    Posted Oct 01st 2012, 12:00am by Melanie Nutbeam

    ... On the face of it, that looks attractive. But both currencies are trading at historically high levels. If either currency depreciates, even marginally, you could lose your interest earnings, while if the currency depreciates significantly, you will suffer a capital loss when you exchange your money back to Hong Kong dollars. Of course, you could be lucky and find that at the end of six months ...

  2. HK faces stiffer race as yuan trade centre

    Posted Jan 13th 2011, 12:00am by Enoch Yiu

    ... Enoch Yiu Hong Kong is facing more competition from rival cities in the race to become an offshore yuan trading centre as lenders in New York, London and Singapore begin offering services in the currency. Bank of China started yuan trading services in the United States last month, a sign that Beijing is encouraging more major financial centres to use the currency. This comes before ...

  3. China Green reports profit growth of 26.6pc to meet results deadline

    Posted Aug 31st 2010, 12:00am by Amanda Lee

    ... Amanda Lee China Green (Holdings) got in under the wire yesterday to report an annual profit rise of 26.6 per cent, just days after shares of the mainland fruit and vegetable producer plunged because of a delay in the results announcement. The stock, whic ...

  4. Hot money inflow loses momentum

    Posted May 21st 2010, 12:00am by Enoch Yiu

    ... the Hong Kong dollar and which the HKMA invests in bonds, stocks and local and foreign currencies. The fund reported an investment income of HK$10.8 billion in the first quarter, up slightly ... the fund lost HK$3.1 billion in Hong Kong stocks and HK$8.7 billion in foreign-currency investment, which was offset by HK$11.4 billion of earnings from bonds and HK$11.2 billion from overseas ...

  5. Buyers defaulting on price-fall fears

    Posted Apr 21st 2010, 12:00am by Sandy Li

    ... Sandy Li A growing number of would-be homebuyers in Shenzhen, Shanghai and Beijing could walk away from signed purchase agreements because they fear house prices are set to fall heavily, say estate agents. By quitting now and forfeiting their deposits, th ...

  6. Market ignores 'strong dollar' call

    Posted Oct 13th 2009, 12:00am by Kevin Rafferty

    ... oil-producing and consuming nations other than the US were trying to take the greenback down a peg and discussing pricing the fuel in a new basket of currencies rather than in dollars. If the report is accurate and the discussions prove successful, then the dollar's remaining days as the global reserve currency could be numbered in years rather than decades. Kenneth Rogoff, the influential ...

  7. HKMA injects HK$6.2b into bank system to check currency's rise

    Posted Apr 24th 2009, 12:00am by Staff Reporter

    ... Maria Chan The Hong Kong Monetary Authority pumped HK$6.2 billion into the banking system yesterday, the third consecutive day of injection, to keep the local currency from rising above ... haven,' he said. Separately, a currency dealer said the recent rise in the Hong Kong dollar was due in part to some speculation about the fate of the currency peg amid growing talk ...

  8. Shenzhen traders profit from currency uncertainty

    Posted Mar 31st 2009, 12:00am by Staff Reporter

    ... He Huifeng Shenzhen foreign-exchange dealer Fang Zhen has been worried for months by a surge in people exchanging yuan for Hong Kong dollars based on fears that the mainland currency would ... and industry supervisors at the People's Bank of China. Since October, many people in Shenzhen had discovered they could make a profit from currency trading between official banks and the black ...

  9. Yuan's depreciation talk receding

    Posted Jun 26th 2009, 12:00am by Martin Zhou

    ... money from China as they did during the peak of the crisis. 'In addition, the apparent growth in the net buying of foreign currencies by Chinese banks simply reflected that the market expectation for yuan depreciation has weakened significantly.' The People's Bank of China recorded a net purchase of US$35.5 billion worth of foreign currencies last month, up from US$22.5 ...

  10. New HKMA chief must maintain steady course

    Posted Jul 18th 2009, 12:00am by Staff Reporter

    ... as a deputy to outgoing chief executive Joseph Yam Chi-kwong. But the shoes of his formidable predecessor are big ones to fill. Mr Yam's chief legacy will be his commitment to the currency peg ... the reserves' status. Time and again, doubts have been raised about the peg's future. Beijing's public challenge to the reserve currency status of the US dollar may reopen this debate. ...




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