The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Dah Sing Bank, Limited relating to phishing emails, which have been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.
      
     The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks' websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
      
     Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the emails concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.

     The Countryside Conservation Office (CCO) under the Environment and Ecology Bureau is holding a National Ecology Day Thematic Exhibition entitled "Discovering Ecological Wonders" starting today (August 16) in celebration of the second National Ecology Day.
 
     The exhibition aims to enhance public understanding of the culture and natural ecology of Hong Kong's countryside areas, and encourage them to explore local biodiversity, with a view to raising the community's awareness towards ecological civilisation and environmental protection, and embodying the core concept "lucid waters and lush mountains are invaluable assets".
 
     The exhibition comprises six zones, namely Nurturing in the Beauty of Countryside, Admiring the Abundance of Biodiversity, Treasuring the Enchantment of Village Life, Unveiling the Wonders of Butterflies, Restoring Wetland Ecosystems and Exploring Village Stories. By viewing real-time monitoring of wetland ecology and microscopic butterfly scales and participating in virtual-reality videos, games, and audio-guided storytelling, visitors can experience the culture and natural environment of countryside areas in interactive ways, and capture memories in the photo zone.
 
     In addition, the exhibition will feature a special programme at 2.30pm tomorrow (August 17), titled "Rhythms of Nature", with a harmonica concert performed by World Harmonica Festival Champion Mr Gordon Lee, accompanied by students performing live music. The performance will take the audience on a journey of appreciating nature ecology.
 
     The exhibition will be held from today to August 21 at G/F Central Atrium, Olympian City 2, from noon to 8pm. Admission is free. For details, please visit the Facebook page of the CCO (www.facebook.com/countrysideconservationhk).

          

The following is issued on behalf of the Hong Kong Monetary Authority:
 
(Approved for Issue by the Exchange Fund Advisory Committee on July 25, 2024)
 
Report on Currency Board Operations (April 25 – June 25, 2024)
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     The Currency Board Sub-Committee (Sub-Committee) noted that the Hong Kong dollar (HKD) traded within a range of 7.7987 – 7.8294 against the US dollar (USD) during the review period. The HKD exchange rate strengthened between late April and mid-May, supported by dividend-related funding demand and vibrant equity market activities, and then remained largely stable. HKD interbank rates continued to track the USD rates while also being affected by local supply and demand. The Convertibility Undertakings were not triggered and the Aggregate Balance was stable at around HK$45 billion. No abnormality was noted in the usage of the Discount Window. Overall, the HKD exchange and interbank markets continued to trade in a smooth and orderly manner. 
      
     The Sub-Committee noted that the Monetary Base increased to HK$1,917.51 billion at the end of the review period. In accordance with the Currency Board principles, all changes in the Monetary Base had been fully matched by changes in foreign reserves.
      
     The Report on Currency Board Operations for the review period is at Annex.

Monitoring of Risks and Vulnerabilities
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     The Sub-Committee noted that asynchronous developments across advanced economies (AEs) on the growth and inflation fronts had driven a divergence in their central banks' recent policy actions. While the US Federal Reserve (the Fed) stayed put in June amidst sticky inflation and solid job growth, a number of AE central banks had started to lower rates. Looking ahead, the Fed's "high for longer" forward guidance might continue to fuel USD strength and weigh on the exchange rates of emerging market Asian economies while the still-elevated global interest rates could pose challenges to asset valuation and the private sector's credit quality.
      
     The Sub-Committee noted that economic recovery in Mainland China remained uneven, with stronger external trade but sluggish domestic demand and property market activities. Market sentiment on the Mainland economy improved somewhat after a more supportive policy tone from the April Politburo meeting, where the authorities pledged to reduce housing inventory, but the outlook remained challenging given the complicated geo-strategic environment.
      
     The Sub-Committee noted that in Hong Kong, economic activities continued to expand in Q1 2024, underpinned by a notable increase in merchandise exports alongside the improvement in external demand and the upturn in the global technology cycle. Looking ahead, the domestic economy was expected to continue to recover at a moderate pace in 2024, but the growth outlook would face evolving risks and uncertainties relating to the US policy rate path, global economic prospects and geopolitical tensions. While residential market transactions had been active since the policy relaxations in late-February, market sentiment turned cautious in May amid increased new property launches at competitive prices and renewed uncertainty surrounding the US policy rate path. Meanwhile, the commercial real estate market remained subdued, especially in the office segment.

     The overall Comprehensive Social Security Assistance (CSSA) caseload in July showed a drop of 255 cases, representing a decrease of 0.1 per cent compared with that of June, according to the latest CSSA caseload statistics released by the Social Welfare Department today (August 16).

     The total CSSA caseload at the end of July stood at 197 709 (see attached table), with a total of 269 484 recipients.

     Analysed by case nature, low-earnings cases registered a month-to-month decrease of 0.7 per cent to 1 467 cases. Unemployment cases decreased by 0.6 per cent to 16 590 cases. Single parent cases dropped by 0.3 per cent to 19 972 cases. Old age cases declined by 0.1 per cent to 110 830 cases.

     Ill-health cases registered an increase of 0.1 per cent to 27 903 cases. Permanent disability cases remained steady at 17 043 cases.

     The Centre for Health Protection (CHP) of the Department of Health today (August 16) reported the latest number of dengue fever (DF) cases, and urged the public to maintain strict environmental hygiene, mosquito control and personal protective measures both locally and during travel.

     From August 9 to yesterday (August 15), the CHP recorded one imported DF case; the patient had been to Vietnam during the incubation period.

     As of yesterday, 44 cases of DF, including 41 imported and three local cases, had been recorded in 2024. In 2023, 62 imported cases of DF were recorded.

     According to the World Health Organization, the global incidence of DF has markedly increased over the past two decades, posing a substantial public health challenge. In 2023, ongoing transmissions, combined with an unexpected spike in DF cases, had resulted in close to a historic high of over 6.5 million cases, and more than 7 300 dengue-related deaths reported in over 80 countries/territories. The latest surveillance data shows that there is an increase in DF cases noted in some places in Asia (such as Indonesia, Malaysia, Singapore and Thailand) compared to the same period last year. Since the beginning of 2024, the Americas, including Brazil, Argentina and Peru, have recorded over 11 million cases, a record number. Detailed information on the latest DF situation in Hong Kong, as well as neighbouring and overseas countries and areas, has been uploaded to the CHP website (www.chp.gov.hk/files/pdf/df_imported_cases_and_overseas_figures_eng.pdf).

     "Apart from general measures, travellers returning from areas affected by DF should apply insect repellent for 14 days upon arrival in Hong Kong. If feeling unwell, seek medical advice promptly and provide travel details to a doctor," a spokesman for the CHP said.

     The public should take heed of the following advice on mosquito control:
 

• Thoroughly check all gully traps, roof gutters, surface channels and drains to prevent blockage;
• Scrub and clean drains and surface channels with an alkaline detergent compound at least once a week to remove any deposited mosquito eggs;
• Properly dispose of refuse, such as soft drink cans, empty bottles and boxes, in covered litter containers;
• Completely change the water of flowers and plants at least once a week. The use of saucers should be avoided if possible;
• Level irregular ground surfaces before the rainy season;
• Avoid staying in shrubby areas; and
• Take personal protective measures such as wearing light-coloured long-sleeved clothes and trousers, and apply insect repellent containing DEET to clothing or uncovered areas of the body when doing outdoor activities.

     DEET-containing insect repellents are effective and the public should take heed of the tips below:
 

• Read the label instructions carefully first;
• Apply right before entering an area with risk of mosquito bites;
• Apply on exposed skin and clothing;
• Use DEET of up to 30 per cent for pregnant women and up to 10 per cent for children*;
• Apply sunscreen first, then insect repellent; and
• Reapply only when needed and follow the instructions.

* For children who travel to countries or areas where mosquito-borne diseases are endemic or epidemic and where exposure is likely, those aged 2 months or above can use DEET-containing insect repellents with a DEET concentration of up to 30 per cent.

     â€‹â€‹The public should call 1823 in case of mosquito problems and may visit the following pages for more information: the DF page of the CHP and the Travel Health Service, the latest Travel Health News, tips for using insect repellents, and the CHP Facebook Page and YouTube Channel.