AB: HK dollar falls on year-end U.S. dollar demand
HONG KONG, Dec 29 - The following is a snapshot of the Hong Kong foreign exchange and money market on Tuesday.
Latest Previous Day
At 0614 GMT At 0519 GMT
HK$ SPOT 7.7567/68 7.7557/58
FORWARDS
Three-month -50/-47 -52/-48
Six-month -101/-96 -105/-100
One-year -203/-193 -213/-203
INTERBANK RATES (PERCENTAGE)
Overnight 0.00001/0.03 0.0001/0.03
One-month 0.01/0.08 0.01/0.08
Three-month 0.05/0.14 0.05/0.13
Six-month 0.16/0.29 0.13/0.28
One-year 0.45/0.68 0.45/0.65
For more live quotes of forwards and interbank rates, click on .
* The Hong Kong dollar extended losses on Tuesday, undermined by persistent commercial demand for the U.S. dollar and a sluggish stock market.
* The local currency was quoted at 7.7567 against the U.S. dollar at 0614 GMT, having earlier hit a session low of 7.7575.
Dealers attributed the fall to year-end corporate buying of the U.S. currency, as investors took profit in the stock market.
* The Hong Kong dollar has suffered selling pressure in recent weeks as players covered previously short positions on the U.S. dollar before year-end book closings, and on talk of some repatriation of funds raised in Hong Kong IPOs by Chinese companies.
* Hong Kong shares erased early gains to edge lower at the midday break on Tuesday, with the Hang Seng Index <.HSI> slipping 0.06 percent and the China Enterprises Index <.HSCE> of top locally listed mainland Chinese stocks off 0.24 percent.
* The Hong Kong dollar is pegged at 7.80 to the U.S. dollar but can trade between 7.75 and 7.85.
* Hong Kong dollar interest rate swaps (IRS) stepped up by 2-4 basis points from the previous session, tracking a rise in U.S. bond yields overnight. [US/]
One-year IRS edged higher to 0.521 percent, compared with 0.492 at the close on Monday.
* Local longer-dated interbank rates marked higher on position adjustment following a rise in IRS, but actual trading was subdued, a dealer said.
One-year Hibor was fixed at 0.67429 percent, up from Monday's 0.64357 percent.
* The government will release retail sales data for November at 0830 GMT.
MARKET/ECONOMIC NEWS > Stock market reports and updates: [.HK] > Yuan reports and updates: [CNY/] > U.S. dollar reports and updates: [USD/] [FRX/] > Emerging Asia forex reports and updates: [EMRG/FRX]