Hong Kong’s financial war chest increased its earnings by 51 per cent to a record last year, fuelled by a rally in local and global stocks as well as bonds.
The Exchange Fund’s investment income surged to HK$331 billion (US$42 billion), the most since its creation in 1993, the Hong Kong Monetary Authority (HKMA) said on Wednesday. Hong Kong’s de facto central bank uses the fund’s holdings to help defend the city’s currency peg to the US dollar.
All of the fund’s main investment categories were…
The Exchange Fund’s investment income surged to HK$331 billion (US$42 billion), the most since its creation in 1993, the Hong Kong Monetary Authority (HKMA) said on Wednesday. Hong Kong’s de facto central bank uses the fund’s holdings to help defend the city’s currency peg to the US dollar.
All of the fund’s main investment categories were…
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