November 4, 2019 / 3:31 AM / 3 months ago

HK Exchange Fund sees Q3 investment income drop 55% from previous quarter

HONG KONG, Nov 4 (Reuters) - Hong Kong’s Exchange Fund, which is used to back the Hong Kong dollar, posted an investment income of HK$20.2 billion ($2.58 billion) in the third quarter, a drop of 55% from the previous quarter, the Hong Kong Monetary Authority (HKMA) said on Monday.

The figure compared with an investment gain of HK$9.5 billion in the year earlier period, and an HK$33.6 billion investment loss in the fourth quarter of 2018.

The HKMA is the key manager of the Exchange Fund, which is under the control of the financial secretary and invests in equities, bonds, foreign exchange and other securities and assets. ($1=7.8372 Hong Kong dollars) (Reporting by Twinnie Siu and Donny Kwok; Editing by Clarence Fernandez)

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