Hong Kong's Exchange Fund gains record US$35 billion in first 9 months amid market rally

Hong Kong's Exchange Fund posted its biggest nine-month return since the Hong Kong Monetary Authority (HKMA) began releasing the data in 2003, as a bull run in the stock market helped boost the financial war chest used to defend the local currency. The Exchange Fund reported a decline in its third-quarter gains, but cumulative earnings for the first nine months of the year jumped 14.6 per cent to HK$274 billion (US$35 billion), the HKMA, which manages the fund, said in a statement on Thursday. The strong ...