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Hong Kong Exchange Fund's Total Assets Increase in May

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The total assets of Hong Kong's Exchange Fund increased to HK$4.391 trillion as at May 31, up from HK$4.354 trillion at the end of April, the Hong Kong Monetary Authority (HKMA) said Tuesday.

Foreign currency assets rose by HK$39.8 billion in the month, driven primarily by interest income, mark-to-market revaluation of investments and government bond issuance proceeds, while Hong Kong dollar assets declined by HK$3.1 billion, due to a mark-to-market revaluation of Hong Kong equities, the release said.

The monetary base at the end of May was steady at HK$2.072 trillion, it said.

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