HKMA's foreign assets fall HK$6.3 billion in May

The Hong Kong Monetary Authority has reported significant foreign asset losses for its Exchange Fund during May.

The Monetary Authority said on Monday that the fund's foreign asset losses, mainly made up of instruments and equities in various foreign currencies, had lost HK$6.3 billion ($807m) in value last month.

The loss, however, amounts to just half of a percentage point of the total value of the fund's assets, which is HK$2 trillion.

The fund's monetary base - comprising certificates of