BackHong Kong’s Exchange Fund earnings tumble 74% as HKMA warns of more market turbulence

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SCMP Tech12 minutes agoBusiness1 min readChina

Hong Kong’s Exchange Fund earnings tumble 74% as HKMA warns of more market turbulence

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Exchange Fund earnings fell to HK$18.6 billion in the quarter from HK$70.8 billion a year earlier, while nine-month earnings reached HK$171.9 billion, down 39.6 per cent.
The Hong Kong equities portfolio lost HK$2.7 billion as the Hang Seng Index fell more than 9 per cent in ten months.

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The Exchange Fund manages Hong Kong's foreign exchange reserves and investment assets. The Hang Seng Index is Hong Kong's benchmark stock market index.

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Earnings totalled HK$18.6 billion (US$2.4 billion) in the quarter, plunging from HK$70.8 billion a year earlier. For the first nine months of 2026, total earnings reached HK$171.9 billion, down 39.6 per cent from the same period last year.

The Exchange Fund’s Hong Kong equities portfolio recorded a loss of HK$2.7 billion in the first nine months. The Hang Seng Index fell more than 9 per cent in the first 10 months, weighed down by concerns over interest rates and corporate earnings.

Open Questions

What specific factors drove the quarterly earnings decline beyond general interest rate and earnings concerns?
What is the Exchange Fund's outlook for the remainder of 2026?

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Hong Kong’s Exchange Fund earnings tumble 74% as HKMA warns of more market turbulence

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Hong Kong’s Exchange Fund earnings tumble 74% as HKMA warns of more market turbulence

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Why It Matters

Open Questions

Related Topics

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