Key facts
- Hong Kong's Exchange Fund earnings dropped 37% in the first half of the year.
- The decline was primarily due to a slump in equity investments.
- Weaker income from bonds also contributed to the earnings decrease.
- Total investment income for the first half was HK$14.4 billion.
- This is a decrease from HK$22.7 billion in the same period last year.
- The fund's performance reflects broader market challenges.
- The Hong Kong Monetary Authority manages the Exchange Fund.
Hong Kong's Exchange Fund reported a substantial 37% decrease in its earnings for the first half of the year, a downturn primarily driven by a significant slump in its equity investments and weaker income generated from its bond holdings. The fund's performance for the period ending June 30, 2023, saw its total investment income fall to HK$14.4 billion (approximately $1.85 billion USD), a notable decrease from the HK$22.7 billion (approximately $2.91 billion USD) earned in the corresponding period of the previous year.