Core Insights - The Hong Kong Monetary Authority (HKMA) reported an increase in the foreign exchange fund's overseas assets by HKD 50 billion, reaching HKD 3,509.1 billion as of October [1] - The monetary base is recorded at HKD 2,026.7 billion, which includes various components such as certificates of indebtedness, government-issued currency, bank reserves, and issued foreign exchange fund notes and bonds [1] - The total claims of the foreign exchange fund on the private sector in Hong Kong amount to HKD 313.4 billion, while total external liabilities stand at HKD 36.5 billion [1]

Core Viewpoint - The Hong Kong Monetary Authority (HKMA) will continue to adhere to the principle of "capital preservation first, long-term value enhancement" while managing the foreign exchange fund cautiously and flexibly [1] Group 1: Investment Environment - The investment environment is positively influenced by central bank monetary policies, geopolitical situations, and the surge in artificial intelligence [1] - Major asset classes performed well, with major stock market indices reaching new highs during the third quarter [1] - Hong Kong stocks benefited from capital inflows, rising approximately 12% in the third quarter [1] Group 2: Bond Market - Despite the Federal Reserve's interest rate cuts in September, U.S. dollar bond yields remain high, providing decent interest income for the bond portfolio held by the foreign exchange fund [1] - The U.S. dollar strengthened against other major currencies in the third quarter, leading to some foreign exchange valuation adjustments for the foreign exchange fund's assets [1] - Overall, the foreign exchange fund recorded good investment income in the first nine months of 2025, with all major asset classes achieving positive returns [1] Group 3: Future Outlook - The investment environment for the remainder of 2025 remains highly uncertain [1] - While further interest rate cuts by the Federal Reserve may improve investment sentiment, concerns about the U.S. economic outlook will persist [1] - The impact of U.S. government trade policies, trade tensions, and fluctuating geopolitical situations on financial markets remains unpredictable [1]

Core Points - The Hong Kong Monetary Authority (HKMA) reported an increase of HKD 82 billion in foreign exchange fund assets as of September 30, 2025, bringing the total to HKD 4,152.2 billion [1][3] - The increase in HKD assets was attributed to the rise in the month-end balance of subscribed but unsettled foreign exchange fund notes and bonds, as well as the revaluation of Hong Kong stocks at market prices [1][3] - Conversely, foreign currency assets decreased by HKD 15.2 billion due to withdrawals from 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 market revaluation [1][3] Deposit Data - Total deposits from recognized institutions increased by 1.3% in September compared to August, with HKD deposits and foreign currency deposits rising by 1.4% and 1.3%, respectively [1][3] - From the beginning of the year to the end of September, total deposits and HKD deposits increased by 10.2% and 4.1%, respectively [1][3]

Group 1 - The core viewpoint of the article highlights the increase in Hong Kong's foreign exchange fund total assets, which reached 41,522 billion HKD as of September 30, 2025, an increase of 82 billion HKD compared to the end of August [1] - The increase in HKD assets was primarily due to the rise in the month-end balance of subscribed but unsettled 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 the reduction in the month-end balance of purchased but unsettled securities, although this decline was partially offset by interest income from investments and revaluation [1] Group 2 - As of September 30, 2025, the monetary base was 20,202 billion HKD, reflecting an increase of 60 billion HKD, or 0.3%, compared to the end of August [1] - The total amount of supporting assets increased by 70 billion HKD to 22,182 billion HKD, also showing a growth of 0.3% [1] - The support ratio rose from 109.78% at the end of August to 109.80% at the end of September [1]

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 Viewpoint - The Hong Kong Monetary Authority (HKMA) has lowered the base rate to 4.25% effective immediately, following a reduction in the U.S. federal funds rate [1] Group 1: Interest Rate Adjustment - The base rate is set based on two data points: the lower limit of the current U.S. federal funds rate target range plus 50 basis points, or the average of the 5-day moving average of overnight and one-month Hong Kong Interbank Offered Rate (HIBOR), whichever is higher [1] - The U.S. Federal Reserve reduced the federal funds rate target range by 25 basis points, making the lower limit plus 50 basis points equal to 4.25%, while the average of the 5-day moving average of HIBOR is 3.21% [1] Group 2: Economic Implications - The HKMA's president, Eddie Yue, indicated that the uncertainty regarding future U.S. rate cuts will impact the interest rate environment in Hong Kong [1] - The Hong Kong residential property market has remained stable over the past six months, but it is influenced by various factors including the economy, employment, and supply-demand dynamics [1] - If the U.S. continues to lower rates, the HIBOR in Hong Kong will gradually decline under the linked exchange rate system, potentially having a positive effect on the economy and the real estate market [1]

每经AI快讯，10月30日，香港金融管理局将基本利率从4.5%下调至4.25%。 ...

Core Insights - The Hong Kong Monetary Authority (HKMA) has released the second phase report of the "Digital Hong Kong Dollar" pilot program, indicating a lack of significant demand or use cases for retail applications, leading to a focus on wholesale applications for interbank payments [1][2] - The HKMA has been researching central bank digital currency (CBDC) since 2017, utilizing distributed ledger technology, and believes that the "Digital Hong Kong Dollar" can facilitate cost-effective, programmable, and robust transactions [1] - The HKMA has assisted the government in issuing two batches of tokenized bonds, with plans for a third batch, aiming to enhance automation and increase bank participation in the issuance process [1] Future Developments - The HKMA plans to continue preparations in policy, legal, and technological aspects to potentially expand the "Digital Hong Kong Dollar" for personal and business use, with completion expected by the first half of 2026 [2] - The timing for the expansion of the "Digital Hong Kong Dollar" will be adjusted based on international developments, technological advancements, and market demand [2] - The HKMA's president expressed optimism about the outcomes of the pilot program phases and emphasized the importance of collaboration with the industry for future developments in CBDC and tokenization [2]

2025年9月的贸易加权澳汇指数为100.8，与上月及去年同期比较分别下跌0.06点及1.60点，显示总体来 说，澳门元兑澳门主要贸易伙伴的货币出现下浮的情况。 10月15日，澳门金融管理局公布，2025年9月底澳门特别行政区的外汇储备资产总额，初步统计为2,392 亿澳门元(298.4亿美元)，较2025年8月经修订总额2,354亿澳门元(293.3亿美元)，上升了1.6%。2025年9 月底的外汇资产总额，约相当于2025年8月底澳门流通货币的11倍或广义货币供应(M2)中属于澳门元部 分的89.4%。 ...

Group 1 - The Hong Kong Monetary Authority reported a decrease in the foreign exchange fund's overseas assets by 28.1 billion HKD, bringing the total to 345.91 billion HKD as of September 2025 [1] - The monetary base is recorded at 202.02 billion HKD, which includes liabilities certificates, government-issued currency, bank system balances, and issued foreign exchange fund notes and bonds [1] - The total amount of claims on the private sector in Hong Kong by the foreign exchange fund is 350 billion HKD, while total external liabilities amount to 33.6 billion HKD [1]