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’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’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

Topic |   Banking & Finance
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’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’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
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