Hong Kong’s Exchange Fund, the war chest used to defend the local currency, continued its comeback in the first quarter, posting a return of HK$54.3 billion (US$7 billion) as rising overseas stock markets offset losses in domestic equities.
Even in the absence of the buying restrictions, a healthy supply and elevated interest rates mean the city’s infamously expensive house prices are unlikely to return to the kind of breakneck growth seen in the past, analysts say.