HONG KONG Oct 9 The Hong Kong Monetary Authority (HKMA) stepped into the currency market and sold HK$4.495 billion ($580 million) in Hong Kong dollars overnight during New York trading hours as the local currency hit the strong end of its trading range.
The HKMA said the latest intervention will lift the aggregate balance - the sum of balances on clearing accounts maintained by banks with the authority - to HK$365.97 billion on Oct. 13, when the injected funds will be settled.
16:51 Scottrade Sale Nearly Doubles Owner’s Wealth to $4 Billion10
20:28 With Europe-Canada Deal Near Collapse, Globalization’s Latest Chapter Is History5
11:10 Merged BAT-Reynolds could be loaded with up to $55 billion of debt, analysts say5
16:03 Morgan Stanley’s earnings jump, helped by trading15