The Government is expected to announce today that it will sell about HK$8 billion of its share portfolio via the Tracker Fund in the next three months, according to an Exchange Fund Investment (EFI) source.
The source told Business Post that the decision on the third-quarter share sale had been made by the EFI board of directors yesterday morning.
The EFI, which handles sales of the Government's portfolio, will seek approval from the Hong Kong Monetary Authority and Financial Secretary Antony Leung Kam-chung before making an announcement after the stock market closes at 4pm.
An HK$8 billion share sale will represent a 33 per cent rise on the second quarter's HK$6 billion.
'Market sentiment has been stronger recently while there are signs of economic recovery,' the EFI source said.
'We have confidence in the local stock market in the following months. This allows the Government to dispose of a higher amount of its stock portfolio.'
