March 29, 2018 / 9:44 AM / a year ago

Hong Kong Exchange Fund assets HK$4.190 trln end-Feb - HKMA

HONG KONG, March 29 (Reuters) - Assets at the Exchange Fund, which is used to back the Hong Kong dollar, totalled HK$4,189.6 billion ($533.84 billion) at the end of February, the Hong Kong Monetary Authority (HKMA) said on Thursday.

The figure was HK$3.0 billion lower than the total at the end of January, with foreign currency assets increasing by HK$9.8 billion and Hong Kong dollar assets decreasing by HK$12.8 billion, the city’s de facto central bank said in a statement.

The HKMA said the rise in foreign currency assets was mainly due to the increase in unsettled purchases of securities and the issuance of Certificates of Indebtedness, which were partly offset by mark-to-market reduction in the value of foreign currency portfolios.

The decline in Hong Kong dollar assets was mainly due to the fall in market value of Hong Kong equities and withdrawals of placements by government funds and statutory bodies, which were partly offset by additional placements from fiscal reserves, it added.

($1 = 7.8481 Hong Kong dollars)

Reporting by Twinnie Siu; Editing by Biju Dwarakanath

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