The Exchange Fund, Hong Kong’s financial war chest for defending the currency peg, reported a loss for the fourth quarter because of falling bond prices and a valuation loss on non-US dollar assets. For the full year, the fund reported its fifth-best annual return, as a diversified investment approach paid off. The investment return in…
The Exchange Fund reported one of its best quarterly returns as stock markets rallied in Hong Kong and the United States, as a diversified investment approach helped to swell the financial war chest for defending the city’s currency peg. The fund’s investment return more than doubled to HK$224.7 billion (US$28.8 billion) in the first nine…
The Hong Kong Monetary Authority (HKMA) is monitoring an increase in bad debts in the city’s commercial real estate sector, but the authority’s top boss believes the banking system is robust enough to handle the situation without distress. “It is a concern, but not alarming as the situation is still manageable,” HKMA CEO Eddie Yue…
The Hong Kong Monetary Authority (HKMA) is monitoring an increase in bad debts in the city’s commercial real estate sector, but the authority’s top boss believes the banking system is robust enough to handle the situation without distress. “It is a concern, but not alarming as the situation is still manageable,” HKMA CEO Eddie Yue…
Eddie Yue Wai-man, who will start his second five-year term as the city’s de facto central banker on Tuesday, said development of the Greater Bay Area has been slower than expected. Beijing rolled out its blueprint for the Greater Bay Area project, which seeks to integrate Hong Kong, Macau and nine mainland cities into an…