Hong Kong's official foreign currency reserve assets stood at US$136.2 billion in May, down US$600 million on April, the Monetary Authority says.

Including unsettled forward contracts, the city's foreign currency reserve assets also fell US$600 million to US$136.2 billion.

Hong Kong is the world's eighth-largest holder of foreign currency reserves after the Mainland, Japan, Russia, Taiwan, South Korea, India and Singapore.

The total foreign currency reserve assets represent about seven times the currency in circulation or 37% of Hong Kong dollar M3.