Exchange Fund Q3 income plunges 69 per cent to HK$18.6bn
Hong Kong's Exchange Fund reported a 69 per cent year-on-year drop in investment income for the third quarter, reaching HK$18.6 billion. Bond profits fell 99 per cent, while Hong Kong equity investments swung to a profit of HK$9.1 billion.
The Exchange Fund, which backs the Hong Kong dollar, posted an investment income of HK$18.6 billion for the third quarter, down 69 per cent over the same period a year ago, data from the Hong Kong Monetary Authority showed on Friday.
The figure also represented a decrease of 83 per cent from the second quarter. For the first three quarters, the fund's investment income reached HK$171.9 billion.
In the third quarter, profits from bonds stood at around HK$300 million, down 99 per cent year-on-year. The investment in Hong Kong equities swung to a profit of HK$9.1 billion, compared with a HK$6.8 billion loss during the April-June period, while it indicated a decline of 47 per cent year-on-year.
Profit of other equities dropped 98 per cent quarter-on-quarter to HK$1.5 billion. It also earned HK$7.7 billion from the positive currency translation effect of non-Hong Kong dollar assets.