HKMA sells HK$364 million in intervention

The Hong Kong Monetary Authority (HKMA), the territory's de facto central bank, intervened in the money markets for the second time on Friday, selling HK$364 million and buying US dollars in an effort to weaken the local currency.
The HKMA sold HK$442 million in two separate moves on Friday, according to real time information available on Reuters.
The first intervention in which the HKMA sold HK$78 million occurred during New York trade.
The Hong Kong dollar was trading at 7.7631/32 at 0632 GMT, versus 7.7633 in the morning.
The Hong Kong dollar is pegged to the US dollar at HK$7.80 per dollar.
However, the HKMA has had to intervene regularly in recent months to keep it close to that level and offset strong demand for Hong Kong dollars by investors amid growing signs of economic recovery in the territory.