Core Viewpoint - The Hong Kong Monetary Authority (HKMA) activated the "weak-side convertibility guarantee" under the linked exchange rate system, selling USD and buying HKD worth 94.2 billion HKD, as the HKD weakened to 7.85 HKD per USD during the New York trading session on June 26 [1] Group 1 - The last occurrence of the "weak-side convertibility guarantee" was in May 2023, while the "strong-side convertibility guarantee" was triggered on May 3, 2023, when the HKD reached 7.75 HKD per USD [1] - HKMA's President, Eddie Yue, noted that the HKD had previously seen a capital inflow of 129.4 billion HKD due to the "strong-side convertibility guarantee" in May, indicating a shift in market dynamics [1] - Factors contributing to the HKD's weakening include reduced demand for HKD due to the end of the dividend payout season, non-local companies converting HKD from IPOs or bond issuances back to their currencies, and the completion of half-year funding needs [1] Group 2 - The HKMA emphasizes the importance of maintaining HKD exchange rate stability as part of its monetary policy objectives, given Hong Kong's open economy and lack of foreign exchange controls [2] - The HKMA provides convertibility guarantees, committing to sell HKD at the "strong-side" level of 7.75 HKD per USD and buy HKD at the "weak-side" level of 7.85 HKD per USD upon banks' requests [2] - Eddie Yue advised caution in managing interest rate and market risks, indicating that the HKD may trigger the "weak-side convertibility guarantee" again in the future as bank reserves decrease and HKD interbank rates may rise [2]

此后的5月5日、5月6日，港元又接连两次触发"强方兑换保证"。总体来看，香港金管局三次已累计注资 1166亿港元，银行体系结余（货币基础的一个组成部分）将升至近1614亿港元。 余伟文透露，港元本轮触发强方兑换保证主要有几个原因：一是与股票投资相关的对港元需求增加，过 去几个月南向资金流入不少；二是市场变化后，有不少做空亚洲货币的仓位都已平仓；三是未来对港币 的需求还会增加，市场也能看到这一点。一方面，可能会有一些重磅大型的IPO在香港进行；另一方 面，未来两三个月是香港上市公司的派息期，对港元的需求还会持续。 今年一季度，香港市场的融资活动持续活跃，凸显了香港市场的吸引力。香港交易所新股市场融资额位 列全球前五，并迎来自2021年4月以来融资额最大的两宗再融资发行。第二季度以来，香港交易所新股 上市申请数目保持稳健，共有120宗申请正在处理中。 每经记者 黄婉银 每经编辑 张益铭 5月6日，在香港财经事务委员会会议上，《每日经济新闻》记者了解到，香港金融管理局（以下简称香 港金管局）总裁余伟文在发言时表示，近几日，港元已三次触发"强方兑换保证"，但港元市场非常顺畅 有序，香港金管局没有发现异常的活动。 5月 ...

香港金管局今晨再注资605.43亿港元，三度注资共1166.14亿 金十数据5月6日讯，香港金管局今晨再注资605.43亿港元，美元弱势，港元汇价兑每美元长时间触及 7.75强方兑换保证，金管局资料披露，根据联系汇率机制，在美股收市后，再接78.12亿美元沽盘，银行 体系结余将升至1613.84亿港元。自上周五美股收市后，因触及强方兑换保证，金管局已开始承接美元 沽盘，向市场注资465.39亿港元，连同昨日亚洲交易时段金管局注资的95.32亿港元，3度接钱累计注资 1166.14亿港元。 ...

智通财经4月12日电，阿根廷放弃联系汇率机制，允许阿根廷比索在区间内浮动。 ...