Hong Kong may sell bills to mop up excess cash sloshing in the city’s financial system after Ant’s record-breaking stock sale

• The Hong Kong Monetary Authority (HKMA), the de facto central bank, has had buy up US$24.6 billion of US dollars in October to weaken the local currency and bring it back within a trading band
• The retail portion of Ant Group’s stock sale attracted HK$1.3 trillion in orders, more than 390 times the initial supply