3.2
In the securities market, the opening in April 1986 of the Unified Stock Exchange, which replaced the four stock exchanges, introduced computer-assisted stock trading in Hong Kong. The introduction of the Hang Seng Index futures in May also received firm support from investors.
3.3
In line with developments in other
centres, activities in both the primary and the
financial
secondary
markets for certificates of deposit and other kinds of bills
and notes increased rapidly.
Deposits
3.4
the
Hong Kong dollar deposits continued to grow during first half of this year, albeit at a slower rate than last (3). year
The slower growth rate was partly due to the rapid
(4) increase in
in foreign currency swap deposits
According to
/statistics
(3)
During
the period
Growth rates of deposits
with banks and deposit-taking companies (%)
Foreign
Currencies
HK$
Total
1985 Q1
1986 Q1
TYSLER ZIE
+2.5
+6.8
+4.6
Q2
+3.3
+6.3
+4.8
+0.6
+9.7
+5.1
04
+3.0
+8.5
+5.9
H1
+5.9
+13.6
+9.6
H2
+3.7
+19.0
+11.2
+2.0
+7.8
+5.1
Q2
+1.9
+6.3
+4.3
H1
+3.9
+9.6
As at end of
June 86 (HK$Mn)
(4)
220,409
+14.7
271,542
491,951
Foreign currency swap deposits are deposits involving customers buying spot foreign currencies and placing them on deposit with financial institutions, but at the same time entering into a contract to sell forward such foreign currencies (principal plus interest) to the financial institutions on maturity of such deposits. For most analytical purposes, they should be regarded as Hong Kong dollar deposits.
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