Reuters logo
Yuan deposits see noticeable drop in first 3 weeks of Nov -HKMA
December 2, 2016 / 2:31 AM / in a year

Yuan deposits see noticeable drop in first 3 weeks of Nov -HKMA

HONG KONG, Dec 2 (Reuters) - The Hong Kong Monetary Authority (HKMA) said that yuan deposits in the city declined noticeably by the end of the first three weeks in November compared to the end of October.

Yuan deposits in the world’s biggest offshore yuan centre fell 0.4 percent to 662.5 billion yuan ($96.22 billion) in October, the city’s de facto central bank said on Wednesday.

The decline may be due to some market players’ cautious attitude toward the yuan’s outlook and the adjustment of yuan asset allocation, the HKMA told Reuters in an email reply on Friday.

“The HKMA has not received November figures, but from the information collected from banks, yuan customer deposits by the end of the first three weeks of November saw noticeable drop from October,” it said.

But yuan liquidity management in Hong Kong’s banking system remains stable and the offshore yuan market’s operation is in order, HKMA said.

The HKMA will release November yuan deposit figure at the end of this month. (Reporting by Michelle Chen; Editing by Shri Navaratnam)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below