KONTAN.CO.ID - HONG KONG. Local currency deposits in Hong Kong shrank the most month-on-month in over a year in August while U.S. dollar deposits ballooned, official data showed on Monday. Hong Kong dollar deposits declined by 1.6% last month, the steepest monthly fall since May 2018, while U.S. dollar deposits grew by the most since December 2018 at a rate of 2.7%, according to Refinitiv Datastream. The city's economy and financial markets have been under pressure amid escalations in local political unrest and the U.S.-China trade war in recent months.
Hong Kong's local currency deposits drop in August, central bank says normal
KONTAN.CO.ID - HONG KONG. Local currency deposits in Hong Kong shrank the most month-on-month in over a year in August while U.S. dollar deposits ballooned, official data showed on Monday. Hong Kong dollar deposits declined by 1.6% last month, the steepest monthly fall since May 2018, while U.S. dollar deposits grew by the most since December 2018 at a rate of 2.7%, according to Refinitiv Datastream. The city's economy and financial markets have been under pressure amid escalations in local political unrest and the U.S.-China trade war in recent months.