Hong Kong Exchange Fund logs record gains in 2025

HONG KONG, Jan. 28 (Xinhua) -- Investment income of Hong Kong's Exchange Fund in 2025 came in at a record 331 billion Hong Kong dollars (about 42 billion U.S. dollars) amid the global bull market, the Hong Kong Monetary Authority (HKMA) said on Wednesday.

The gains included 142.2 billion Hong Kong dollars on bonds, 33.9 billion Hong Kong dollars on Hong Kong equities and 74.1 billion Hong Kong dollars on other equities. Annual investment return stood at 8 percent, according to the HKMA.

Total assets of the Exchange Fund stood at around 4.15 trillion Hong Kong dollars by the end of December, up 70.4 billion Hong Kong dollars from the end of 2024.

Eddie Yue, chief executive of the HKMA, said that the unprecedented gains came amid solid or even record upturns of major stock markets worldwide. Benefitting from capital inflows into the Hong Kong stock market, the Hang Seng Index rose by 28 percent in 2025.

Yue acknowledged that the exceptional confluence of multiple favorable factors in the global financial markets in 2025 may not last for a long time. In 2026, factors such as global economic conditions, monetary policies of major central banks, developments in artificial intelligence, and geopolitical conflicts could affect the performance of financial markets, he said.