16.12.201906:19:00UTC+00Hong Kong Dollar Rises To 5-1/2-month High Against U.S. Dollar

The Hong Kong dollar strengthened against the U.S. dollar in late Asian deals on Monday, as better than expected China data bolstered sentiment.

China's industrial production rose an annual 6.2 percent in November, the National Bureau of Statistics said, coming in above forecasts of 5.0 percent growth. Similarly, retail sales grew 8.0 from last year, above expectations of a 7.6 percent growth.

Investors also awaited fine details of the interim "Phase 1" agreement between the U.S. and China announced Friday.

The Hong Kong currency climbed to a 5-1/2-month high of 7.7866 against the greenback from Friday's closing value of 7.7997. The next possible resistance for the Hong Kong dollar is seen around the 7.77 level.