HONG KONG - Hong Kong's official foreign currency reserve assets amounted to $294.9 billion at the end of June, up $3 billion on the end of May, the Hong Kong Monetary Authority said Friday.

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of June stood at $294.9 billion.

The figure represents more than eight times the currency in circulation, or about 55 percent of Hong Kong dollar M3.