【明報專訊】LAST SATURDAY, another round of hot money started pouring into Hong Kong, and the Hong Kong dollar touched the strong-side Convertibility Undertaking of HK$7.75 to US$1. The Hong Kong Monetary Authority had, up to yesterday, sold more than HK$14.3 billion for about US$1.8 billion in four interventions. Market analysts believe that the money is not attracted to Hong Kong in hopes of an appreciation of the Hong Kong dollar or a change in the Hong Kong dollar peg, but is flowing into the stock and property markets. They warn that a continuing inflow will boost asset prices.
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