Hong Kong exports rise 3.6 pct in Sept, gold exports to mainland see first increase in four months

Data released by Hong Kong's Census and Statistics Department (C&SD) on Thursday showed that values of Hong Kong's total exports and imports of goods were up by 3.6 percent and 4.1 percent respectively year-on- year.

Details showed the value of total exports of goods (comprising re-exports and domestic exports) increased to $328.0 billion of which the value of re-exports increased by 3.6 percent to $324.3 billion, while the value of domestic exports increased by 2.9 percent to $3.7 billion. The value of imports of goods increased to $367.7 billion bringing the September trade deficit to $39.7 billion, equivalent to 10.8 percent of the value of imports of goods.

China raised bullion imports from Hong Kong in September for the first time in four months as investors sought to diversify their assets on prospects for a weakening yuan. Net purchases were 44.9 metric tons from 41.9 tons in August and 96.6 tons in the same month last year, according to data from the Hong Kong Census and Statistics.

"Further weakness in China’s currency and investors’ concerns over the outlook for the nation’s property market may spur gold demand," said Goldman Sachs in a report.