www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Exchange Fund posts 2nd highest return

Updated: 2013-01-15 06:51

By Oswald Chan(HK Edition)

  Print Mail Large Medium  Small 分享按鈕 0

 Exchange Fund posts 2nd highest return

Norman Chan (2nd left), chief executive of the Hong Kong Monetary Authority, chairs the plenary session policy dialogue at the Asian Financial Forum on Monday. Edmond Tang / China Daily

But HKMA cautions uncertainties in this year's investment prospect

The Hong Kong Monetary Authority (HKMA) Exchange Fund posted an investment return of HK$108.6 billion ($14.01 billion) in 2012, the second highest in history, due to the buoyant share market performance, HKMA announced in a statement on Monday. However, it cautioned that the investment prospect in 2013 is still uncertain.

Local and overseas share investment brought a return of HK$73.3 billion, bond investment HK$33.1 billion and other investment HK$3.6 billion. However, foreign exchange investment incurred a loss of HK$1.4 billion.

The HK$108.6 billion return represented an investment return rate of 4.4 percent in 2012. That compared with a 1.1 percent return or HK$27.1 billion investment gain in 2011.

The average return was 3.0 percent over the last three years, 1.8 percent over the last five years, 4.9 percent over the last 10 years, and 5.6 percent since 1994.

HKMA Chief Executive Norman Chan expected the global financial markets to continue to be subject to many uncertainties in 2013.

"We must be mindful that the current asset prices are the result of both close-to-zero interest rate and the massive quantitative easing by the US and other major advanced countries. The valuations of the equity markets do not appear to be supported by improved fundamentals, and it is unclear how long they can hold."

"Furthermore, the US Treasury yields have already dropped to very low levels following several rounds of quantitative easing, with the 10-year Treasuries yield falling below 2 percent. Investors who rely on interest incomes from their bond holdings are greatly affected," Chan reckoned.

"With the unfavorable employment situation in European countries and the lackluster economic growth progress in the US, should this highly politically charged process be managed poorly, tremors similar to those that shook the global financial markets in August 2011 may recur," Chan cautioned.

Chan pledged that the HKMA will continue to manage the Exchange Fund prudently and pursue the investments in the Long-Term Growth Portfolio in a gradual manner.

The fee payments to the Fiscal Reserves amounted to HK$37.8 billion and the Accumulated Surplus recorded an increase of HK$55.8 billion.

The total assets of the Exchange swelled from HK$2.49 trillion at the end of 2011 to HK$2.78 trillion at the end of 2012.

The HKMA is the key manager of the Exchange Fund, which is under the control of the financial secretary, invests in equities, bonds, foreign exchange and other alternative assets. The Exchange is used to defend the local currency which has been pegged to the US dollar since 1983.

oswald@chinadailyhk.com

(HK Edition 01/15/2013 page2)

主站蜘蛛池模板: 国产成人精品曰本亚洲78 | 怡红院成人在线 | 国产精品久久久久精 | 中文字幕亚洲 综合久久 | 欧美高清在线精品一区 | 亚洲精品国产美女在线观看 | 免费观看成年人视频 | 91久久香蕉青青草原娱乐 | 久久久精品2018免费观看 | 美女扒开腿让男人桶 | 欧美一及 | 国产一区二区三区四区五区 | 日韩中文字幕网 | 99精品视频在线观看免费 | avtt天堂网 手机资源 | 国产日韩欧美精品一区二区三区 | 国产网站黄 | 国产亚洲一区二区三区在线 | 欧美精品v日韩精品v国产精品 | 呦视频在线一区二区三区 | 大片毛片| 欧美一级毛片免费大片 | 免费成年网| 国产精品麻豆一区二区三区v视界 | 欧美日韩国产亚洲一区二区三区 | 一区二区三区网站在线免费线观看 | 99久久www免费| 免费观看黄色毛片 | 女黄人东京手机福利视频 | 国产99久久亚洲综合精品 | 精品亚洲成a人片在线观看 精品亚洲成a人在线播放 | 免费国产成人午夜在线观看 | 色综合天天综合网看在线影院 | 亚洲午夜片 | 老司机亚洲精品 | 欧美日韩精品一区三区 | 久久国产精品岛国搬运工 | 一级毛片免费不卡在线视频 | 国产精品久久亚洲一区二区 | 免费一级a毛片在线播放视 免费一级α片在线观看 | 三级视频网站在线观看播放 |