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Holiday pay should be equivalent to an employee's earnings on a full working day and should include basic wages as well as allowances that can be expressed in money terms such as meals and cost of living allowances.

Where the earnings vary from day to day, holiday pay should be the average daily earnings during every complete wage period, which could be between 28 and 31 days, preceding the holiday.

If an employee is required to work on a statutory holiday, he must be given an alternative day off within 60 days before or after that day.

Enquiries about statutory holidays may be made at the Labour Department's General Enquiry Telephone Service on 2717 1771.

End/Saturday, September 2, 1995

Hong Kong Monetary Authority money market operations

Cumulative

Time

$Million

(Hours)

Change ($Million)

Opening Balance in the account

1,186

09:30

-125

Closing Balance in the account

1,561

10:00

-125

Change Attributable to:

11:00

-125

Money Market Activity

-125

11:30

-125

LAF Today

+500

LAF Rate 4.25% Bid/6.25% Offer TWI 122.1 *-0.1* 2.9.95

End/Saturday, September 2, 1995