“Hong Kong’s Exchange Fund, the war chest used to defend the local currency, reported its smallest investment gain in five quarters as the Middle East crisis weighed on stock market performance. The fund gained HK$34.5 billion (US$4.4 billion) in the first quarter, 56 per cent lower than HK$79.2 billion a year earlier, according to data released by the Hong Kong Monetary Authority (HKMA) on Monday. The fund still managed to report its fifth consecutive quarterly gain, but it was the smallest gain...
Original story
Continue reading at SCMP Hong Kong
www.scmp.com/news/hong-kong
Summary generated from the RSS feed of SCMP Hong Kong. All article rights belong to the original publisher. Click through to read the full piece on www.scmp.com/news/hong-kong.