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DEPOSITS UP 0.7 PCT IN HK IN DECEMBER.
HONG KONG, Feb 1 Asia Pulse - Total deposits rose by 0.7 per cent across-the-board in December, with Hong Kong dollar, US dollar and non-US dollar foreign currency deposits all increasing, the Hong Kong Monetary Authority (HKMA) said.
Hong Kong dollar deposits increased 0.8 per cent in December 2000, mainly due to a rise in savings deposits and time deposits, which more than offset a decline in demand deposits, HKMA said in a statement.
Foreign currency deposits rose 0.7 per cent during the month.
Of the total, US dollar deposits increased by 0.2 per cent, while non-US dollar deposits rose more notably by 1.6 per cent.
HKMA said total loans and advances shrank by 2.0 per cent in December.
Domestic loans fell 1.2 per cent in December, following a rise in the preceding month.
On a seasonally adjusted basis, Hong Kong dollar M1 dropped 1.3 per cent in December.
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