Hong Kong Wealth Fund Posts Record $26 Billion Loss in 2022
(Bloomberg) — Hong Kong’s wealth fund suffered a record HK$202.4 billion ($25.8 billion) loss in 2022, hurt by a sell-off in stocks and bonds as interest rates rose.
The Exchange Fund lost HK$80.7 billion on its portfolio of domestic and foreign stocks while its shortfall on bonds was HK$53.3 billion, the Hong Kong Monetary Authority (HKMA) said Monday. The heavy losses came even after the fund recorded a gain of HK$76.4 billion in the fourth quarter.
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