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HONG KONG: Hong Kong's central bank has sold more of its local currency so far this year than it did in any full year since the global financial crisis, in a bid to stop the unit strengthening and breaking its peg with the greenback.
HONG KONG: The Hong Kong Monetary Authority sold HK$1.163 billion ($150.06 million) into the market in Hong Kong trading hours after the local currency hit the strong end of its trading band, according to data released by the HKMA.
MANILA: The Philippines central bank governor Benjamin Diokno says the technology behind digital tokens can improve delivery of financial services, as the regulator proceeds to study the feasibility of its own digital currency.
HONG KONG: Hong Kong's Exchange Fund, which is used to back the Hong Kong dollar, posted investment loss of HK$10.6 billion ($1.37 billion) in the first half of 2020, the Hong Kong Monetary Authority (HKMA) said on Friday.
HONG KONG: China's national security law for Hong Kong and moves by the United States to begin withdrawing privileges enjoyed by the city under U.S. law have unsettled investors.
SOME top advisers to President Donald Trump want the U.S. to undermine the Hong Kong dollar’s peg to the U.S. dollar as the administration considers options to punish China for recent moves to chip away at the former British colony’s political freedoms, according to people familiar with the matter.
HONG KONG: Hong Kong’s rallying stock market is defying predictions of the death of the city in the wake of a new security law.
HONG KONG wants to send a clear message to its residents and the world: its currency peg isn’t in doubt, despite the city being increasingly caught up in tensions between Beijing and Washington.
HONG KONG: Hong Kong stock exchange’s boss called for confidence that the city will maintain its “undisputed” role as Asia’s financial nave, even as it battles the fallout from the coronavirus outbreak and political unrest.