HKMA Exchange Fund 1Q Investment Gains HK$57.1 Billion

By Chester YungFeaturesDow Jones Newswires

The fund that maintains the Hong Kong dollar's peg to the U.S. dollar registered an investment income of 57.1 billion Hong Kong dollars (US$7.33 billion) in the first quarter, up from HK$25.4 billion a year earlier, the Hong Kong Monetary Authority said Monday.

The latest investment gains of Hong Kong Exchange Fund reversed an investment loss of HK$23.3 billion in the fourth quarter of 2016, thanks to a rally in major equities markets during the January-March period amid an improved global economic outlook, the city's de facto central bank said.

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(END) Dow Jones Newswires

May 29, 2017 01:00 ET (05:00 GMT)