Core Viewpoint - The Hong Kong Monetary Authority (HKMA) activated the "strong-side convertibility guarantee" at 7.75 HKD per USD, indicating a strong demand for HKD driven by stock market activities and upcoming large IPOs [1][2][3] Group 1: Currency Stability Mechanism - The HKMA purchased USD and sold a total of 46.539 billion HKD to maintain currency stability, increasing the banking system's aggregate balance to 91.309 billion HKD by May 7 [1] - The last activation of the "strong-side convertibility guarantee" occurred on October 28, 2020, highlighting the rarity of such events [2] - The HKMA's monetary policy aims to keep the HKD stable, with a target range of 7.75 to 7.85 HKD per USD under the currency board system [3][4] Group 2: Market Dynamics - Recent strong demand for HKD is attributed to increased stock investment activities and the appreciation of several regional currencies against the USD [2] - The HKMA is closely monitoring market dynamics to ensure orderly operations of the HKD market [2] - The influx of "southbound funds" into the Hong Kong stock market has contributed to the strengthening of the HKD [3] Group 3: Financial Environment - Hong Kong's financing activities remain robust, with the stock exchange ranking among the top five globally for new stock market financing [3] - The HKMA's commitment to maintaining the currency peg is supported by a fully backed monetary base with USD assets [3][5] - The automatic interest rate adjustment mechanism helps stabilize the HKD exchange rate by managing the supply and demand dynamics in the market [5]
近5年来首次,香港金管局入市,斥资465亿港元购买美元
Mei Ri Jing Ji Xin Wen·2025-05-03 14:28