Hong Kong’s monetary authority has intervened 53 times so far this year to weaken its currency amid an inflow of hot money chasing after stock offerings. Photo: Winson Wong
Hong Kong bank deposits surge by US$50 billion in August as investors target Ant Group, other hotly anticipated IPOs
- Bank deposits increased for third month in a row, topping HK$14.8 trillion
- HKMA forced to intervene to weaken currency 15 times in September as hot money chases hot IPOs, secondary listings by Chinese firms
Hong Kong’s monetary authority has intervened 53 times so far this year to weaken its currency amid an inflow of hot money chasing after stock offerings. Photo: Winson Wong
