Hong Kong’s Exchange Fund, the war chest used to defend the local currency, continued its comeback in the first quarter, posting a return of HK$54.3 billion (US$7 billion) as rising overseas stock markets offset losses in domestic equities.
That is 50 per cent lower than the HK$108 billion gain in the same quarter of 2023, and 55 per cent lower than the HK$120.1 billion returned in the previous three month-period, according to data provided by the Hong Kong Monetary Authority (HKMA) on Monday.
Source: Trade Finance
