Hong Kong Monetary Authority

The Hong Kong Monetary Authority (HKMA) was established in April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. The HKMA is responsible for maintaining monetary and banking stability, including maintaining currency stability within the framework of the Linked Exchange Rate system under which the Hong Kong dollar is pegged to the US dollar.


Hot money inflow may rock markets, warns HKMA's Norman Chan

HKMA chief Norman Chan Tak-lam

Hong Kong Monetary Authority chief executive Norman Chan Tak-lam has warned of volatile investment markets ahead, due to hot money flowing into the city.

Tuesday, 11 December, 2012, 2:55am

Business Digest, December 8, 2012

HKMA sells HK$3.875b to weaken HK dollar

8 Dec 2012 - 3:49am

Business Digest, December 5, 2012

SJM leads casinos' slide on junket curb worries

The Hong Kong Monetary Authority sold HK$3.875 billion on the foreign exchange market yesterday to weaken the Hong Kong dollar as the currency repeatedly hit the strong end of its trading range. Under the peg to the US dollar, the HKMA must intervene when the Hong Kong dollar hits 7.75 or 7.85, to maintain the trading band. 

5 Dec 2012 - 4:59am

Hang Seng Index breaks 22,000 on hot money surge

Hong Kong Exchanges and Clearing increased the size of its first share offering in 12 years to US$1 billion. Photo: Reuters

The Hang Seng Index crossed the 22,000-point level yesterday as market sentiment continued to strengthen amid an influx of hot money.

The index rose 107.5 points, or 0.49 per cent, to close at 22,030.39. With that, the index has risen 1.8 per cent in November, making it the third straight month of gains.

1 Dec 2012 - 3:16am

Global demand for yuan on the rise

HKMA chief Norman Chan says Hong Kong banks should develop their yuan business with other offshore centres. Photo: K.Y. Cheng

Beijing's efforts to promote the yuan by developing the offshore yuan business are well supported by increasing trade settlement with the rest of the world in the currency, officials and industry experts said yesterday.

1 Dec 2012 - 4:31am

Business Digest, November 30, 2012

The Labor Department received fewer first-time claims for unemployment insurance last week as the disruptions wrought by superstorm Sandy ebbed.

S&P maintains China's sovereign debt ratings

Standard & Poor's affirmed China's sovereign long-term credit rating of AA-minus and short-term rating of A-1-plus in an annual report yesterday and said the outlook remains stable, citing the country's "exceptional" growth prospects, holdings of overseas assets and modest government indebtedness. Bloomberg


8 May 2015 - 9:46am

Business Digest, November 28, 2012

UAE mulls full foreign ownership of firms. Photo: Xinhua

HKMA sells HK$3.1b to weaken HK dollar

The Hong Kong Monetary Authority sold HK$3.1 billion in the currency markets to weaken the local dollar, preventing it from strengthening past its trading peg with the US dollar, after the US dollar hit HK$7.75, the lower end of the trading band between the local unit and the greenback.


28 Nov 2012 - 2:34am

SFC aims to shield Hong Kong's retail investors

SFC chief executive Ashley Alder says prevention of miss-selling is a priority for regulators around the world. Photo: Sam Tsang

The Securities and Futures Commission will issue more proposals next year to prevent the misrepresentation of financial products to retail investors as part of its work with international financial regulators, according to SFC chief executive Ashley Alder.

28 Nov 2012 - 4:25am

Exchange Fund rounds to HK$41.2b gain in third quarter

HKMA is doing a "stress test" on the banking industry for assessing the potential impact of a worst-case scenario if the US fails to reach agreement.

The Exchange Fund turned around earlier losses to return HK$41.2 billion in the third quarter, thanks to a rebound in the stock market and gains from currencies and bonds.

The third-quarter profit compared to a loss of HK$5.6 billion in the second quarter and a loss of HK$41.7 billion in last year's third quarter, said the Hong Kong Monetary Authority (HKMA).

20 Nov 2012 - 4:01am

China returns a big lure for investors

Interest in converting savings into yuan comes as the mainland currency strengthened to new highs in recent weeks. Photo: Edward Wong

Sellers of trust and wealth-management products on the mainland say there has been a rise in interest in their offerings from offshore buyers, including Hong Kong residents, especially after the yuan strengthened to new highs in recent weeks.

7 Nov 2012 - 3:36am

Stock investors buoyant despite small bounce from QE3

Investors have pushed the Hang Seng Index to a 15-month high, after the United States announced a new round of quantitative easing in September. Photo: Bloomberg

The Hong Kong government may be increasingly worried about hot money pouring into the city, but stock market participants are playing it cool.

The reason could be that they have not seen much of that hot money flowing into the stock market yet, unlike the inflows that followed previous rounds of US monetary policy loosening known as quantitative easing.

6 Nov 2012 - 3:36pm

Hot money pushes up Hong Kong stocks to 15-month high

Hot money pushes up Hong Kong stocks to 15-month high

Hong Kong stocks hit a 15-month high yesterday, breaching the 22,000 level for the first time in 15 months as investors were cheered by positive data from the US and the mainland.

3 Nov 2012 - 3:32am

Hot money inflow expected to continue, analysts say

The Hong Kong dollar sits high against the US dollar. Photo: AFP

An influx of hot money into Hong Kong chasing the rising yuan has forced the city's financial chiefs to exchange HK$32.24 billion worth of local currency for US dollars in the past two weeks as they try to stop the Hong Kong dollar from spilling over its official limit of HK$7.75 against the greenback.

3 Nov 2012 - 3:22am

Business Digest, November 2, 2012

Rents at offices owned by Swire Properties rose between 20 per cent and 51 per cent for new leases.

HKMA intervenes for 8th time against HK$

2 Nov 2012 - 5:30am

Business Digest, October 31, 2012

HKMA steps in again to weaken HK dollar

31 Oct 2012 - 2:31am