Saturday, May 25, 2019
Martin Hennecke

Exchange Fund's foreign assets rise
Foreign assets, representing the external assets of the Exchange Fund, increased during the month by HK$20.1 billion to HK$3.577 trillion, according to the Hong Kong Monetary Authority. The monetary base, including certificates of indebtedness, government-issued currency notes and coins in circulation, the balance of the banking system and exchange fund bills and notes issued, amounted to HK$1.646 trillion. Claims on the private sector in Hong Kong amounted to HK$291 billion. Meanwhile, the Hong Kong Trade Development Council reported the export index rebounded in the first quarter to 39.2 points, up 4 points on a quarterly basis, reflecting an improvement in exporter confidence, though it was still below the 50-point level, showing overall pessimistic sentiment.
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