Banks tap HK$4.7b from HKMA, most since Feb

Banks in Hong Kong borrowed HK$4.67 billion - the largest amount of short-term cash in since February from the Hong Kong Monetary Authority via the discount window - on Tuesday, suggesting there was a sudden demand for liquidity.

Banks are seeking cash from the HKMA after the city's de-facto central bank stepped in four times within a week recently to buy Hong Kong dollars totalling about HK$60 billion.

STAFF REPORTER