(Bloomberg) -- The Hong Kong Monetary Authority may invest more of its $135 billion of foreign-exchange reserves in Asia to increase returns, said Stephen Jen, head of currency research at Morgan Stanley.
The city's de facto central bank, whose reserves are mostly in dollar-denominated debt, may buy riskier Asian assets, which would support the region's currencies, wrote Jen in a research note April 12. Yields on 10-year bonds in India and Indonesia are more than 3 percentage points higher than those of similar- dated U.S. Treasuries.
Read more at Bloomberg Currencies News
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