Hong Kong steps in to weaken the local dollar, as hot money inflows defy doomsday talk of capital flight after China’s security law

• Hong Kong’s monetary authority sold HK$15.31 billion of local dollars on Monday and Tuesday to weaken the currency and bring it back within its trading band
• Hong Kong’s de facto central bank had to intervene 24 times this year, spending up to HK$72.94 billion to maintain the dollar’s trading band