Exchange Fund Posts HK$86bn Loss In First Quarter
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2020-05-04 HKT 10:56
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The Exchange Fund posted a loss of HK$86.1 billion in the first quarter of this year, reversing from gains in the previous three-month period.
This also marked a drastic plunge from the HK$133 billion income in the same quarter last year, as the coronavirus pandemic battered global markets in recent weeks.
The fund, which is used to maintain the stability of the local currency, saw a loss of more than HK$100 billion from equities investments in the period.
Investment in foreign exchange lost HK$29 billion. Bond investment was the only category that wrapped up the quarter in the black with a HK$54 billion income.
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