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  1. Exchange Fund leaps back into profit

    Posted Jul 22nd 2011, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com The Exchange Fund, the reserve that backs the city's currency, reported profit of HK$46.3 billion in the first half of the year, thanks to earnings from ... sovereign debt crisis. The benchmark Hang Seng Index dropped 3 per cent in the first half of this year. 'The investment income reflects the weakness of the stock markets in the first half ...

  2. Mouthpiece media swallows wealth study spin whole

    Posted May 09th 2008, 12:00am by Jake Van Der Kamp

    ... the next decade, sealing its reputation as a wealth centre not just in Asia but worldwide.' Pravda, May 7 No, this excerpt does not come from the Soviet era Russian broadsheet of that name. ... in Pravda's editorial offices when someone discovered in the forecasts of this study that in 2017 Singapore would have the highest percentage in the world of households with net wealth in excess ...

  3. Business - Comment - MONITOR

    Davos talk of new currency war is wildly exaggerated

    Posted Jan 28th 2013, 12:00am by Tom Holland

    ... policies. The head of the Kuwait Investment Authority feared a wave of devaluations across Asia. And Jin Liqun, supervisory chairman of China's US$482 billion sovereign wealth fund, warned ... policy is a naked attempt to force down the yen and risks triggering a destructive round of competitive devaluations by other major economies. Hedge fund manager George Soros forecast foreign ...

  4. Nationalistic barriers

    Posted Dec 13th 2007, 12:00am by James Dorn

    ... to subsidise American goods and to hold so much US public debt. Beijing has created a sovereign wealth fund to begin diversifying and to earn a higher return on its foreign exchange holdings. ... of sovereign wealth funds on US economic and national security is largely misplaced. It would be far better for future US prosperity if China were to diversify out of US public debt and into private ...

  5. Fund bags HK$24b on back of market rise

    Posted May 24th 2011, 12:00am

    ... and the euro zone sovereign debt crisis. Yue told lawmakers at a hearing yesterday that the HKMA would continue to manage the fund in a prudent manner. The fund recorded a HK$2.9 billion loss on its ... Lulu Chen lulu.chen@scmp.com The Exchange Fund, which exists to support the Hong Kong dollar's peg to the US dollar, said its investment income rose 310 per cent quarter-on-quarter ...

  6. Yuan holdings start to take off

    Posted Mar 19th 2012, 12:00am

    ... in the yuan as a reserve currency. Investing in yuan is something that the central banks are considering,' said Daniel Navia, director for central banks and sovereign wealth funds at BBVA, ...

  7. HK$50b rush for HK$10b iBonds

    Posted Jun 14th 2012, 12:00am

    ... be attributed to the good investment return of the first [iBond] offer last year,' said Eric Fu, HSBC's head of wealth development for Hong Kong, retail banking and wealth management. ... that iBonds were subject to policy risk, even though they were virtually free from sovereign risk. 'Should the new administration of C.Y. Leung pledge a bigger package of relief measures, ...

  8. Let's hope the HK government understands what it's in for

    Posted Aug 17th 2011, 12:00am

    ... central banks, sovereign wealth funds and national pension funds are all heavily overweight US dollar assets and want to reduce their exposure. Over the past few years, this urge to diversify has seen a significant flow of funds out of the US dollar and into currencies like the Swiss franc, the Australian dollar and even the Norwegian krone, pushing them all higher. Today it is one ...

  9. Official calls for yuan convertibility

    Posted Nov 20th 2008, 12:00am by Staff Reporter

    ... striving to wield its power in the financial world amid the deepening financial meltdown. On Monday, Jin Liqun, the supervisory board chairman of the mainland's US$200 billion sovereign wealth fund, said Beijing would demand a more significant role in the global financial system if it was to inject additional capital into the International Monetary Fund. A source close to the PBOC ...

  10. Despite slide, dollar's reserve status secure

    Posted Mar 31st 2008, 12:00am by Tom Holland

    ... with undiminished vigour. According to the US Treasury, foreign central banks and sovereign wealth funds bought US$75 billion of dollar assets in January alone. Among the biggest buyers is China. According ...




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