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HK money rates

HONG KONG: Interbank rates and government paper yields ended steady to slightly higher in quiet trading ahead of Friday's U.S. unemployment figures, dealers said.

"Nobody dares to speculate this time since the figures could be positive or negative," a local bank's dealer said.

The overnight rate closed 1/8 up at 5-3/8 1/4 percent on light position covering and three month was virtually unchanged at 5-3/4 5/8 percent.

The stronger U.S. dollar did not affect the market, a dealer said.

Government paper was very quiet on lack of trading incentives.

One-week bill yields closed little changed at 5.30 percent. Three- and five-year notes yielded three points higher at 6.44 and 7.11 percent.

The closing balance of the Exchange Fund account was HK$1.86 billion after banks deposited HK$485 million at the discount window.-Reuter