Hong Kong Yuan Deposit Rise 14.3Pct

Total deposits in Hong Kong hit a record high of 80.9 billion yuan in April, up 14.3 percent from 70.7 billion of the previous month, the Hong Kong Monetary Authority said Monday in a statement on its website.

Owing to rising demand, savings and time deposits, Hong Kong-dollar deposits expanded 3.7 percent during the month, partly reflecting buoyant activity in equity initial public offerings, said the statement.