The returns of Hong Kong’s Exchange Fund, the war chest used to defend the local currency, fell last year. Photo: Shutterstock
Exchange Fund’s gains slump 28 per cent to US$21.9 billion in 2021 as Hong Kong market rout hits investment returns
- The Exchange Fund’s rate of return of 3.6 per cent in 2021 was the worst since it made 0.3 per cent in 2018
- The outlook is rosier this year as the lower valuation of Hong Kong stocks makes them attractive, says broker
The returns of Hong Kong’s Exchange Fund, the war chest used to defend the local currency, fell last year. Photo: Shutterstock
