Financial Secretary's blog post on HKD touching 7.85 weak-side convertibility undertaking, urging public not to worry too much

Financial Secretary said in his blog that the HKD touched the 7.85 weak-side convertibility undertaking last Thursday, with the Hong Kong Monetary Authority intervening four times to buy about HK$9.66 billion, marking its first market intervention since the Linked Exchange Rate System was refined in 2005. He explained that the four-step process of capital outflows leading to a stable exchange rate is normal operation by design, and noted that the Hong Kong Monetary Authority holds about US$130 billion in assets, while banks' liquidity coverage ratio is close to 150%.