Hong Kong Exchange Fund gains US$13 billion in first half of 2024 amid market rallies

Quick Summary:

The war chest that defends the local currency registered a decent investment income in the first half of 2024’ as stock markets rallied globally, says monetary authority CEO.

The HKMA, the city’s de facto central bank, invests the Exchange Fund in stocks in Hong Kong and abroad, global bonds, overseas real estate and other long-term projects.

The fund’s bond investments in the first half posted a return of HK$57.9 billion, slightly lower than HK$58 billion a year earlier.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong KongChina

Topics: Stock Exchange Fund First Kong Cent Billion Quarter Year Investment Hong

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-30 @ 17:10:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 718 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21853446

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