Latest Change USD/HKD Spot 7.7847 -0.0002 1-year USD/HKD Forward* -237 -19 Overnight Hibor 0.06% +1 bp 1-month Hibor 0.18% +12 bps 3-month Hibor 0.25% +5 bps 1-year Hibor 0.71% -1 bp 2-year EF Note 0.25% +1 bp 10-year EF Note 1.21% -3 bps *mid-point of bid-offer spread HONG KONG (Dow Jones)--The Hong Kong dollar rose slightly against the U.S. dollar Thursday, reversing earlier losses in tandem with local equity prices which also rebounded off intraday lows. In late Asian trade, the U.S. dollar was at HK$7.7847, a tad lower than HK$7.7849 late Wednesday. It hit an intra-session high of HK$7.7856. The U.S. unit was fixed at HK$7.7854 earlier Thursday. Traders said worries over euro-zone sovereign debt problems supported the safe-haven greenback, but the effect was partly offset by tight liquidity of Hong Kong dollars in the local banking system. They said they expect the U.S. dollar to trade within a HK$7.7800 to HK$7.7870 band Friday. "I've spotted a Singaporean firm buying about US$50 million (worth of greenback) this morning at HK$7.7845 amid the dollar's strength offshore. But some local banks began selling (the U.S. unit) as local stocks came off their lows," said a senior trader at local bank. The blue-chip Hang Seng Index ended 0.8% lower at 18,817.47, off an intraday low of 18,657.74. The one-year U.S. dollar/Hong Kong dollar forward contract was quoted at a discount of 237 points to the spot rate, compared with a 218-point discount late Wednesday. -By Chester Yung, Dow Jones Newswires; 852-2832 2331; chester.yung@dowjones.com

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