BIZCHINA> Top Biz News
![]() |
HK's Exchange Fund records huge losses
(Xinhua)
Updated: 2009-01-22 08:40 Hong Kong's Exchange Fund took a fierce blow on its investment amid the global financial crisis with a record losses of HK$74.9 billion ($9.66 billion) last year, revealed the Monetary Authority Wednesday.
Yam said the strategic portfolio fell in value by HK$8.9 billion last year and the fee payment to the fiscal reserves was HK$46.4 billion. Together with interest and other expenses, a reduction in the accumulated surplus of HK$136.3 billion was recorded. Total assets of the fund, however, grew by HK$143.3 billion to HK$1.558 trillion at the end of 2008, mainly due to the growth in the Aggregate Balance. Yam said the financial markets experienced "an exceptionally turbulent and perilous" year in 2008, adding: "Flight-to-quality trades, credit deterioration and balance-sheet deleveraging in the financial markets led to significant downward adjustments in asset prices and extreme market volatility during the year." He said the Exchange Fund made a positive return in the fourth quarter as markets stabilized somewhat. If the Hong Kong equities, which are held for long-term investment purposes, are excluded, the fund achieved a HK$3 billion of investment income, Yam said, adding the fund's prudent investment strategy has helped minimize the investment loss. For the year ahead the Monetary Authority expected the investment environment will continue to be uncertain and difficult. "The global financial system remains unsettled. Whether monetary easing and large fiscal stimulus packages in major economies will be effective in restoring investor confidence remains to be seen. Financial markets are under immense stress and we expect volatile conditions to continue for some time," Yam said. The second wave of the global fiscal turmoil seems to be coming and it may be more contagious than the first wave because many emerging markets experienced economic damage in the first wave and their situations are deteriorating, he said. "It will be even more difficult to predict what will happen in the financial markets in 2009. We will closely monitor the development and will exercise flexibility in formulating strategies," he said. "The Monetary Authority will continue to be vigilant in this challenging environment and manage the fund prudently," he added. (For more biz stories, please visit Industries)
|
主站蜘蛛池模板: 久久欧美精品欧美久久欧美 | 手机看片精品国产福利盒子 | 在线精品国产一区二区 | 91亚洲综合 | 毛片免费永久不卡视频观看 | 一级日韩 | 欧美一区永久视频免费观看 | 欧美一级高清免费播放 | 高清国产一区二区三区 | 色老久久 | 亚洲中文字幕特级毛片 | 精品国产美女福利到在线不卡 | 国产精品久久久久久久久免费观看 | 国产九九免费视频网站 | 国产美女一区二区 | 欧美精品久久久久久久久大尺度 | 亚洲人成网址在线观看 | 国产精品亚洲欧美云霸高清 | 欧美精品一级毛片 | 国产在线播放一区 | 成人性生片全套 | 九九热国产精品视频 | 国内国语一级毛片在线视频 | 亚洲午夜在线 | 手机在线观看黄色网址 | 亚洲系列在线 | 久久福利青草精品资源 | 国自产精品手机在线视频香蕉 | 美日韩一区二区三区 | 亚洲欧美国产中文 | 免费a级黄毛片 | 狠狠做久久深爱婷婷97动漫 | 欧美一级毛片不卡免费观看 | 精品国产免费人成在线观看 | 久久一区二区三区免费播放 | 成人网18免费看 | 日本一区二区免费在线观看 | 狠狠色狠狠色综合久久一 | 久久精品久久精品久久 | 97精品国产福利一区二区三区 | 成人黄色在线免费观看 |