HK probes alleged forex rigging

Hong Kong's de facto central bank on Tuesday said it was investigating numerous banks for alleged foreign exchange market manipulation, the latest in a series of international probes. Global regulators are investigating a number of firms linked to the suspected rigging of the foreign exchange market, where trading in the market is valued at $5.3 trillion a day by the Bank for International Settlements. "The HKMA is investigating a number of banks in Hong Kong by requiring them to conduct independent reviews of their FX operations and submit the results to the HKMA," a Hong Kong Monetary Authority spokeswoman said, according to AFP.