The Hong Kong Monetary Authority reported that the Exchange Fund posted first-half 2026 earnings of HK$134.7 billion, a 37% drop from the prior year.
The Hong Kong Monetary Authority said the Exchange Fund earned HK$134.7 billion in the first half of 2026.
This marked a 37% decline from HK$214 billion recorded in the same period of 2025.
The fund’s Hong Kong stock portfolio posted a HK$11.8 billion loss, reversing a HK$22.9 billion gain a year earlier, while the Hang Seng Index fell 11% amid concerns over interest rates and corporate earnings.
Despite the local equity losses, overall equity holdings achieved solid gains thanks to strong performance in other equities, the authority noted.
The HKMA warned of second-half risks from potential corrections in AI-related assets and uncertainty over the US rate path.
