Hong Kong Monetary Authority's quota for intra-day yuan funding nearly used up

[SHANGHAI] The Hong Kong Monetary Authority's (HKMA) quota of 10 billion yuan (S$2.06 billion) for intra-day yuan funding has been nearly used up by Friday afternoon, suggesting tightening yuan liquidity conditions in the Asian financial hub.

By 0600 GMT, 9.458 billion yuan of the quota has been utilised, Refinitiv data showed.

China's short-term money rates rose for a fifth straight day busting the central bank's interest rate corridor ceiling, as an insufficient liquidity injection fed speculation that a shift to a tighter policy may be underway.

REUTERS