Wednesday, a report by the Hong Kong Monetary Authority said the value of new residential mortgage loans drawn down increased 15.7% month-on-month in February, reversing the 15% drop in January. The value of new loans drawn down increased to HK$7.1 billion from HK$6.1 billion in the previous month.

At the same time, the value of new loans approved increased 1.5% in February, following a 8% increase in the previous month. The value of loans approved increased to HK$11.4 billion from HK$11.2 billion in January.

Meanwhile, the value of outstanding loans remained unchanged in February at HK$587 billion, after declining 0.1% in January.

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