HONG KONG : Hong Kong's Exchange Fund, which is used to back the Hong Kong dollar, posted an investment loss of HK$144.2 billion in the first six months of 2022, the Hong Kong Monetary Authority said on Friday.
Its second-quarter loss amounted to HK$95.4 billion after a loss of HK$48.8 billion in the January-March quarter, HKMA said. 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.
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Hong Kong finance chief says property market remains resilientHONG KONG : Hong Kong Financial Secretary Paul Chan said on Thursday the property market remains resilient although sentiment will be dented by increased mortgauge payments amid higher interest rates. Chan was speaking after the city's de facto central bank raised its base rate charged through the overnig
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