Hong Kong Economic & Financial Round-up
Overview
HONG KONG ECONOMY
Issue No. 6/92
Re-exports recorded a further marked increase in April 1992 over a year earlier, while domestic exports showed a decline. Imports continued to rise significantly.
2.
Both the seasonally adjusted unemployment rate and the underemployment rate edged higher in recent months, indicating that there was some easing in the labour market. But further easing may not be likely, as economic activity continued to grow steadily. On the price front, consumer price inflation moderated further in April.
3.
Continuing the trend since late April, local money market interest rates softened further during May. The Hong Kong Association of Banks lowered deposit rates twice in the month. The market exchange rate of the Hong Kong dollar against the US dollar stayed close to the linked rate of 7.80. Along with the recent weakening of the US dollar against other major currencies, the overall exchange value of the Hong Kong dollar declined slightly during May.
4.
Local share prices continued to surge during May, supported by favourable corporate results and interest rate cuts. Daily turnover also rose to historic high.
External trade
5.
Re-exports rose sharply by 28.5% in value terms in April over a year earlier, following an increase of 51.3% in March. On the other hand, the value of domestic exports decreased by 2.6% in April, having risen by 13.8% in March. Meanwhile, the value of imports increased by 19.3%. The corresponding increase in March was 29.6%.
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HONG KONG GOVERNMENT OFFICE
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