The Hongkong exchange fund's investment performance in the third quarter was bet

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      Despite the continuing turbulence in global financial markets, Hong Kong Monetary Authority (HKMA) said Monday that the investment income of the Exchange Fund in the third quarter of this year fell by 97% annually, but better than that in the previous quarter, as overseas stocks rose and foreign exchange losses narrowed sharply in the wake of the Sino-US trade war.
According to the latest data from the HKMA, the Exchange Fund recorded investment income of HK$1.6 billion in July-September 2018, which was significantly lower than HK$61.8 billion in the same period last year, but better than the revised HK$100 million in the second quarter of this year. The investment income in 1-9 months was HK $36 billion 700 million, a sharp decrease of 81% compared with HK $198 billion in the same period last year.
At the beginning of the Sino-US trade war, Hong Kong and emerging market stock indices ran counter to the US stock index, and market sentiment began to reverse after the US stock index peaked at the end of September and the beginning of October, as investors gradually realized that the trade war was also detrimental to the United States itself, Chen Delin, President of the HKMA, said in the Legislative Council.
"A change in market sentiment is a good thing. If there is only one-sided impact, it will not help much to solve the problem." But he also pointed out that "if the Sino US trade war is not resolved, the volatility of financial markets will continue to rise."
In the third quarter of this year, the stock investment losses of the Exchange Fund in Hong Kong narrowed by 8% to HK$4.7 billion compared with the previous quarter, while the returns on overseas stock investment increased by 17.2% to HK$12.8 billion. The foreign exchange losses of HK$16.2 billion and the bond yields of HK$9.7 billion were reduced by 24% and 31% respectively, reflecting the general rise of the US dollar against major currencies in the quarter as well as the fact that the US dollar The US yield rose by 3 percentage points in 9 months.


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