Month: April 2018

Hong Kong’s de facto central bank said it bought 2.44 billion Hong Kong dollars and sold US$311 million early in the day, in order to prevent the financial hub’s currency from weakening beyond its permitted trading range. The HKMA allows the Hong Kong ... ( read original story ...)

New Delhi: Investigators in the Punjab National Bank (PNB) scam have questioned many auditors in the country and have now zeroed in on a cobweb of Hong Kong-based book-keepers who audit all Indian banks in the special administrative region of the China. ( read original story ...)

Pegged to the U.S. dollar since 1983, most of the time the Hong Kong dollar is the dullest currency around. But this past year has been different: It has been falling and falling until in April it finally breached the point at which the central bank must ... ( read original story ...)

HKMA used its reserves to sell US$104m and buy HK$816m from the market, representing the first time the currency has triggered the weak side of the trading band since it was established 13 years ago. The de facto central bank intervened again in early Asia ... ( read original story ...)

HONG KONG, April 13 (Reuters) - Hong Kong’s central bank intervened in the market for the first time since 2015 after its currency hit the weaker end of its trading range, nudging up a key lending rate that could pressure borrowing costs. “I reiterate ... ( read original story ...)

The last time the HKMA bought Hong Kong dollars was in 2005, shortly before the new band was implemented to curb funds flowing into the Asian financial hub to bet on a stronger Chinese yuan. But inflows continued after the financial crisis, encouraged by ... ( read original story ...)

Ping An Healthcare and Technology, China’s largest health care and online medical platform, is to raise US$1 billion from an initial public offering in Hong Kong and will be traded in early May, after it got a verbal go-ahead by the city’s bourse ... ( read original story ...)

It stood at 7.8499 at 5:30pm. Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA), said it will not necessarily step in to prop up the currency. The city’s dollar, pegged at 7.8 per US dollar since October 1983, with the trading ... ( read original story ...)

Samruk-Kazyna, Kazakhstan’s sovereign wealth fund, is planning initial public offerings (IPOs) for three of its major assets this year, and Hong Kong is being viewed as a strong choice as the potential venue. Nurlan Rakhmetov, its managing director for ... ( read original story ...)

Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA), said it will not necessarily step in to prop up the currency. The city’s dollar, pegged at 7.8 per US dollar since October 1983 with a trading band of 7.75 to 7.85 introduced ... ( read original story ...)