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USD/HKD continues to test the bottom......>

HONG KONG: USD/HKD continues to test the bottom end of the peg's band at
HKD7.7500 amid broader USD weakness, with the HKMA injecting HKD977mn into the
system to defend the lower end of the permitted range on Thursday.
- Hong Kong Finance Secretary Chan spoke during Friday's session, telling BBG
that he is sure that the USD/HKD peg will hold, highlighting no obvious signs of
capital outflows since China outlined the Security Law. He also noted mainland
China's support for the peg and investor confidence re: the system.
- Locals also continue to point to stock issuance's influence on liquidity.
Today was the deadline for the NetEase listing. Early indications pointed to
over HKD85bn being locked up in subscriptions.
- Elsewhere,'s Hong Kong listing will price next week, with books opening
today, per BBG.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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