2008-06-30 11:56:57 GMT 2008-06-30 19:56:57 (Beijing Time) Xinhua English
HONG KONG, June 30 (Xinhua) -- Hong Kong Exchange Fund's total assets fell to 1.448 trillion HK dollars(185.84 billion U.S. dollars) in May, down 19.1 billion HK dollars(2.45 billion U.S. dollars) from April, Hong Kong Monetary Authority said here Monday.
Foreign-currency and Hong Kong dollar assets fell 5.8 billion HK dollars(744.40 million U.S. dollars) and 13.3 billion HK dollars(1.71 billion U.S. dollars), the authority said.
The decline in foreign-currency assets was due mainly to valuation losses on foreign-currency investments, which was partly offset by interest and dividend income from foreign-currency assets.
The fall in Hong Kong dollar assets was due mainly to valuation losses on Hong Kong equities held by the Exchange Fund and fiscal draw downs.
The Monetary Base stood at 325.2 billion HK dollars(41.74 billion U.S. dollars), down 1.1 billion HK dollars(141.19 million U.S. dollars) or 0.3 percent from April. The decline was due mainly to a decrease in Certificates of Indebtedness and the market value of Exchange Fund Bills and Notes outstanding.