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HK asset market poised to soar amid fund inflows

Posted on 23 October 2012

The Hong Kong asset market is poised to rise as a new wave of “hot money” is pouring into the local financial system after the surge in Hong Kong dollar exchange rate compelled the Hong Kong Monetary Authority (HKMA) to intervene in the foreign exchange market last week.
The HKMA said it bought $603 million during New York trading hours on Oct 19 after the Hong Kong dollar moved to HK$7.75 - the strong end of its permitted trading range for the first time since December 2009 - compelling its intervention………………………………………..Full Article: Source


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