Hong Kong's Exchange Fund gains $274 billion from investment in the first three quarters

Hong Kong's Exchange Fund recorded an investment income of HK$274 billion in the first three quarters of 2025, surpassing the full-year figures of any given year in the past, data from the city’s de facto central bank showed.

All the investment categories saw a positive return in the nine months, with profit from bonds, the biggest source of income, reaching HK$112.6 billion, according to data released by the Hong Kong Monetary Authority on Thursday.

Gains from Hong Kong stocks were HK$40.1 billion, while those from other equities were HK$59.5 billion. The fund also booked a HK$30.2 billion profit from foreign exchange and a HK$31.6 billion return from other investments in the period. 

Established in 1935, the Exchange Fund is used to back the issuance of the Hong Kong dollar. It also manages the SAR’s fiscal reserves and placements by government funds and statutory bodies.