The amount of money held in accounts rose by HK$225.84 billion (US$29.14 billion) to break through the HK$14 trillion mark at the end of June. Photo: BloombergThe amount of money held in accounts rose by HK$225.84 billion (US$29.14 billion) to break through the HK$14 trillion mark at the end of June. Photo: Bloomberg
The amount of money held in accounts rose by HK$225.84 billion (US$29.14 billion) to break through the HK$14 trillion mark at the end of June. Photo: Bloomberg
Business /  Companies

Hong Kong bank deposits expand by US$29 billion in June, biggest jump in over two years as hot money chases JD.com, NetEase mega IPOs

  • It is the biggest monthly jump since April 2018, at 1.6 per cent, bringing the total cash held in bank accounts beyond HK$14 trillion at the end of June
  • The wave of hot money has repeatedly pushed the Hong Kong dollar exchange rate above its upper limit, forcing the HKMA to intervene 32 times as of Friday
Topic |   Hong Kong Monetary Authority (HKMA)
Enoch Yiu
Enoch Yiu

Updated: 10:46pm, 31 Jul, 2020

Why you can trust SCMP
The amount of money held in accounts rose by HK$225.84 billion (US$29.14 billion) to break through the HK$14 trillion mark at the end of June. Photo: BloombergThe amount of money held in accounts rose by HK$225.84 billion (US$29.14 billion) to break through the HK$14 trillion mark at the end of June. Photo: Bloomberg
The amount of money held in accounts rose by HK$225.84 billion (US$29.14 billion) to break through the HK$14 trillion mark at the end of June. Photo: Bloomberg
READ FULL ARTICLE