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Hong Kong Exchange Fund Had Biggest Quarterly Loss After Rout

  • Fund lost HK$63.8 billion in three months to September
  • Loss was biggest in terms of dollar value in its history

Hong Kong Exchange Fund, managed by the city’s de facto central bank, reported its largest quarterly loss in history by value, as stock prices plummeted amid a market rout.

The fund, managed in its current form by the Hong Kong Monetary Authority from 1998, had an investment loss of HK$63.8 billion ($8.2 billion) in the three months ended September, according to a presentation by HKMA Deputy Chief Executive Eddie Yue to legislators today. The loss was not the biggest by percentage terms, according to a spokeswoman, who didn’t give further details.