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Hong Kong Exchange Fund posts Q3 investment loss of $1.70 billion -HKMA By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: This illustration photograph shows a Hong Kong dollar bill on May 31, 2017. REUTERS/Thomas White/Illustration

HONG KONG (Reuters] – The Hong Kong Monetary Authority reported that Hong Kong’s Exchange Fund (used to back the Hong Kong Dollar) suffered an investment loss in its third quarter of HK$13.2B ($1.70B) – the first after five consecutive quarters with gains.

This compares to a HK$81.2 million investment gain over the same period a full year prior.

The Exchange Fund reported an investment income in the period January to September of this year at HK$126.5 million

The Exchange Fund’s key manager is the HKMA, who is managed by the financial secretary. It invests in equities and bonds as well as other assets and securities.

($1 = 7.7780 Hong Kong dollars)

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