Hong Kong dollar remains weak

The Hong Kong dollar remained under selling pressure against the US unit on Tuesday as investors continued to pull out funds from the territory. The Hong Kong Monetary Authority (HKMA), the city's de facto central bank, reported that it had bought HK $234 million late on Tuesday afternoon in a bid to support the currency.
The action by the HKMA will further reduce the aggregate balance - the sum of balances on clearing accounts maintained by banks with the HKMA - to HK $20.865 billion.
The local currency was trading at 7.7999/7.80 per US dollar flat from the previous close.