Total deposits with authorised institutions rose 5.6% in June, the Monetary Authority says. With the issuance of renminbi-denominated bonds in Hong Kong, renminbi deposits grew 5.6%, to 27.6 billion yuan.

Hong Kong dollar and foreign currency deposits rose by 8.5% and 2.1%. Meanwhile, the Hong Kong dollar demand deposits registered a 47.1% surge, partly reflecting temporary placements relating to equity initial public offerings at the end of the month.

Total loans and advances expanded 8.2% during the month, with Hong Kong dollar and foreign currency loans going up 9.5% and 4.1%. Loans for use in Hong Kong and outside Hong Kong grew 8.6% and 5.9%. Reflecting a larger percentage rise in loans relative to deposits, the Hong Kong dollar loan-to-deposit ratio rose slightly, to 74%.

On a quarter-on-quarter basis, loans for use in Hong Kong grew 6.4% in June. Analysed by economic uses, lending to stockbrokers and financial concerns - as well as trade financing - registered notable increases in the second quarter.

On a seasonally adjusted basis, Hong Kong dollar M1 rose 4.7% in June and 16.5% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 expanded 7.9% and 7.8% during the month. On a year-on-year comparison, Hong Kong dollar M2 and M3 increased 27.4% and 27.3%.