Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Hong Kong's Exchange Fund suffers $11 billion losses in first quarter

Published 05/03/2020, 10:12 PM
Updated 05/03/2020, 10:15 PM
© Reuters. Illustration photo of a Hong Kong dollar note

HONG KONG (Reuters) - Hong Kong's Exchange Fund suffered losses of HK$86.1 billion ($11.11 billion) in the first quarter of 2020, central bank Hong Kong Monetary Authority told local lawmakers in a regular briefing on Monday.

The losses come after the Exchange Fund, which is used to back the Hong Kong dollar, generated its second highest annual investment income on record in 2019.

Latest comments

It's because Hong Kong is now controlled by communists. Everybody knew Beijing would demolish Hong Kong. I feel for the great Hongkongers who must endure watching the ruin of their amazing city state. China is by far the worse virus for Hong Kong.
Why there is no COVID case in Hongkong? There are a lot of people traveling from EU and US to Hongkong every day. Something very fishy.....
  - good for them..
do u understand English non- Hong kong residents.
  - says the guy with a fake English first name..
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.