HKMA Exchange Fund posts $13.3bn gain in first half amid global rally

Hong Kong Monetary Authority’s Exchange Fund recorded an investment return of HK$104 billion ($13.3 billion) in the first half of 2024, helped by a global market rally, the de facto central bank announced. However, the fund’s total assets fell to HK$3.98 trillion ($509.5 billion) as of end-June, decreasing by HK$37.9 billion from the end of 2023. No reason was given for the slide in assets. In the first six months, its global bonds portfolio was the star performer, gaining HK$…