Exchange Fund Investment (EFI) has decided to scale down the size of Government stock portfolio sales via the Tracker Fund for the fourth quarter, according to sources. But has decided not to accept a market call for a suspension of sales for the quarter. The sources said the decision has been submitted to the Hong Kong Monetary Authority and related Government officials for approval, and an announcement would be made today. EFI is the custodian and manager of the Government share portfolio purchased during its stock market intervention in 1998. EFI has sold HK$12 billion worth of Government-owned stocks each quarter via the Tracker Fund - an index fund tracking the performance of the Hang Seng Index. Brokers have urged the Government to suspend Tracker Fund issues for the next three months to boost poor market sentiment. EFI director Chan Kam-lam refused to confirm a scale down in the fourth quarter. 'We always need to consider the market condition before we decide how many units of Tracker Fund will be issued. We don't want sales of the Government portfolio to lead to a more volatile market,' Mr Chan said. Brokers believed EFI would issue only HK$6 billion to HK$8 billion of shares via the Tracker Fund this quarter, down 30 per cent to 50 per cent on its regular sales.