Core Insights - The total assets of the Hong Kong Monetary Authority's foreign exchange fund reached HKD 41,522 billion as of September 30, 2025, an increase of HKD 820 billion from the end of August 2025 [1] - The increase in HKD assets was primarily due to the rise in the month-end balance of foreign exchange fund notes and bonds, as well as the revaluation of Hong Kong stocks [1] - The decrease in foreign currency assets was mainly attributed to the withdrawal of fiscal reserve deposits and a reduction in the month-end balance of purchased but unsettled securities, although this decline was partially offset by interest income from investments and revaluation gains [1] Monetary Base and Support Assets - The monetary base as of September 30, 2025, was HKD 20,202 billion, reflecting an increase of HKD 60 billion or 0.3% from August 2025 [1] - The increase in the monetary base was mainly due to the rise in the total amount of liability certificates and the amortization of discounts on issued foreign exchange fund notes and bonds [1] - The total amount of supporting assets increased by HKD 70 billion to HKD 22,182 billion, also showing a growth of 0.3%, primarily driven by interest income from investments [1] - The support ratio improved slightly from 109.78% at the end of August 2025 to 109.80% at the end of September 2025 [1]

Core Insights - The total assets of the foreign exchange fund as of August 31, 2025, amounted to HKD 40,702 billion, a decrease of HKD 324 billion compared to the end of July 2025, with foreign currency assets decreasing by HKD 361 billion and Hong Kong dollar assets increasing by HKD 37 billion [1] Group 1 - The decrease in foreign currency assets is primarily attributed to the sale of US dollars under the currency board system [1] - The increase in Hong Kong dollar assets is mainly due to the revaluation of Hong Kong stocks at market price [1] Group 2 - As of August 31, 2025, the monetary base was HKD 20,142 billion, a reduction of HKD 284 billion, representing a decrease of 1.4% compared to the end of July 2025 [1] - The reduction in the monetary base is mainly due to the purchase of Hong Kong dollars under the currency board system, although this decrease was partially offset by an increase in the total amount of liability certificates [1] Group 3 - The total amount of supporting assets decreased by HKD 803 billion to HKD 22,112 billion, a decline of 3.5% [1] - The decrease in supporting assets is mainly due to the transfer of assets from the supporting portfolio to the investment portfolio as approved by the Foreign Exchange Fund Advisory Committee, as well as the sale of US dollars under the currency board system [1] - The support ratio fell from 112.19% at the end of July 2025 to 109.78% at the end of August 2025 [1]

Core Insights - As of July 31, 2025, the total assets of Hong Kong's foreign exchange fund amounted to HKD 41,026 billion, a decrease of HKD 1,945 billion compared to June 30, 2025 [1] Summary by Categories Foreign Exchange Fund Assets - The foreign currency assets decreased by HKD 1,061 billion, while Hong Kong dollar assets decreased by HKD 884 billion [1] - The reduction in foreign currency assets was primarily due to the sale of US dollars and a decrease in the month-end balance of securities purchased but not settled, although this decline was partially offset by interest income from investments [1] - The decrease in Hong Kong dollar assets was mainly attributed to a reduction in the month-end balance of foreign exchange fund notes and bonds that were subscribed but not settled [1] Monetary Base - The monetary base as of July 31, 2025, was HKD 20,426 billion, reflecting a decrease of HKD 776 billion, or 3.7%, compared to June 30, 2025 [1] - The reduction in the monetary base was primarily due to the purchase of Hong Kong dollars under the currency board system [1] Supporting Assets - The total amount of supporting assets decreased by HKD 733 billion to HKD 22,915 billion, a decline of 3.1% [1] - The decrease in supporting assets was mainly due to the sale of US dollars under the currency board system, although this decline was also partially offset by interest income from investments [1] - The support ratio increased from 111.54% at the end of June 2025 to 112.19% at the end of July 2025 [1]

Core Insights - The total assets of the foreign exchange fund as of July 31, 2025, amounted to HKD 4,102.6 billion, a decrease of HKD 194.5 billion compared to the end of June 2025 [1] - The decline in foreign currency assets was primarily due to the sale of US dollars and a decrease in the month-end balance of purchased but unsettled securities, although this was partially offset by interest income from investments [1] - The total monetary base as of July 31, 2025, was HKD 2,042.6 billion, reflecting a decrease of HKD 77.6 billion or 3.7% from the end of June 2025 [1] Summary by Category Foreign Exchange Fund Assets - As of July 31, 2025, the foreign exchange fund's total assets were HKD 4,102.6 billion, down HKD 194.5 billion from June 2025 [1] - Foreign currency assets decreased by HKD 106.1 billion, while Hong Kong dollar assets fell by HKD 88.4 billion [1] Monetary Base - The monetary base decreased by HKD 77.6 billion, representing a 3.7% decline from the previous month [1] - The reduction in the monetary base was mainly due to the purchase of Hong Kong dollars under the currency board system [1] Supporting Assets - Total supporting assets decreased by HKD 73.3 billion to HKD 229.15 billion, a reduction of 3.1% [1] - The supporting ratio increased from 111.54% at the end of June 2025 to 112.19% at the end of July 2025 [1]

Core Insights - The total assets of the Exchange Fund reached HKD 42,971 billion as of June 30, 2025, an increase of HKD 1,377 billion from the end of May 2025, with HKD assets rising by HKD 885 billion and foreign currency assets increasing by HKD 492 billion [1] Group 1: Exchange Fund Assets - The increase in HKD assets was primarily due to the month-end balance of Exchange Fund notes and bonds that were subscribed but not settled [1] - The rise in foreign currency assets was mainly attributed to interest income, market value revaluation of investments, and proceeds from the issuance of government green bonds, although this increase was partially offset by the sale of US dollars under the Currency Board system [1] Group 2: Currency Issuance Accounts - As of June 30, 2025, the monetary base was HKD 21,202 billion, a decrease of HKD 47 billion or 0.2% from the end of May 2025, primarily due to the purchase of HKD under the Currency Board system [1] - The decrease in the monetary base was partially offset by an increase in the total amount of liability certificates and the amortization of discounts on issued Exchange Fund notes and bonds [1] Group 3: Supporting Assets - The total amount of supporting assets increased by HKD 86 billion to HKD 23,648 billion, representing a growth of 0.4%, driven by interest income, market value revaluation of investments, and the issuance of liability certificates [1] - The supporting ratio rose from 110.88% at the end of May 2025 to 111.54% at the end of June 2025 [1]