Hong Kong's unemployment rate has dropped to its lowest level in a year, falling to 6% in the three months to the end of May, down from 6.4% previously. The employment situation between March and the end of May improved in almost all major sectors, especially in construction, retail, accommodation and food services.

Investors parked a record amount of cash in an overnight facility at the Federal Reserve on Thursday, after the central bank said it was boosting the reverse repo rate to 0.05% from zero to support “the smooth functioning of short-term funding markets”. Nearly 70 market participants placed US$756bn at the Fed via its reverse repurchase programme as they struggled to find positive-yielding places to invest.

Commodity prices tumbled yesterday because of the surging US dollar and after China’s National Food and Strategic Reserves Administration confirmed plans to release copper, aluminium, and zinc from state reserves for direct sale to manufacturers.

On today’s Money Talk, we’re joined by Le Xia from BBVA Research. With a view from India is Toby Lawson of Societe Generale India.