Yue Wai-Man Expects Difficult Performance for Exchange Fund This Quarter
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On 6 November 2026, Hong Kong Monetary Authority Chief Executive Yue Wai-Man said the market is full of uncertainty this quarter and the Exchange Fund's performance will remain relatively difficult this quarter, requiring good regional and currency diversification from a long-term return perspective. He said the Exchange Fund's US dollar asset allocation has been gradually reduced since the end of last year, and the duration of bond holdings has been further shortened to enhance defensiveness. He is also watching the impact of the US midterm elections on energy prices, inflation and interest rate trends, and whether corporate revenue can support massive AI spending.
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- 香港電台·即時本地Eddie Yue Expects Continued Market Volatility This Quarter as Exchange Fund Faces Tougher Performance
Hong Kong Monetary Authority Chief Executive Eddie Yue expects the market to be full of uncertainty this quarter, with the Exchange Fund's performance remaining more difficult this quarter, requiring good regional and currency diversification from a long-term return perspective. He said the Exchange Fund's US dollar asset allocation has been gradually reduced since the end of last year, with the duration of bond holdings further shortened to enhance defensiveness. He is also watching the impact of the US midterm elections on energy prices, inflation and interest rate trends, as well as whether corporate revenue can support massive AI spending.
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