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Economics

Hong Kong Yuan Deposits Climb to Within 0.5 Percent of Record

Yuan deposits in Hong Kong climbed in January to within 0.5 percent of a record as investors revived bets on the currency’s appreciation as the outlook for growth in Asia’s largest economy improved.

Savings rose 21 billion yuan ($3.3 billion) from the previous month to 624 billion yuan, the Hong Kong Monetary Authority said in a statement on its website today. That’s close to the record 627.3 billion reached at the end of November 2011. December’s 32 billion yuan jump in the savings was the biggest since August 2011.