In Hong Kong, total deposits with authorized institutions rose 1.8 percent in October, with Hong Kong dollar deposits rising 2.3 percent and foreign currency deposits 1.3 percent, the Hong Kong Monetary Authority (HKMA) saidhere Tuesday.

The Monetary Authority said within foreign currency deposits, Renminbi deposits amounted to 8.4 billion RMB yuan (1.02 billion US dollars), compared with 7.7 billion RMB yuan (931.08 million USdollars) in September.

Total loans and advances rose for the third consecutive month by 0.6 percent in October, with loans for use in Hong Kong increasing 0.6 percent and those for use outside rising 0.3 percent.

Analyzed by currency, Hong Kong dollar and foreign currency loans both recorded a rise. As Hong Kong dollar deposits rose notably more than Hong Kong dollar loans, the loan-to-deposit ratio dropped to 83.8 percent in October.

On a seasonally adjusted basis, Hong Kong dollar M1 rose by 1.8percent in October and by 24.2 percent from a year ago.

Unadjusted Hong Kong dollar M2 rose by 2.1 percent and M3 by 2 percent during the month, but dropped by 0.5 percent and 0.7 percent from a year earlier.

Source: Xinhua