HK's Exchange Fund investment revenue up in Q1

HONG KONG - Hong Kong Exchange Fund posted an investment income of HK$43.8 billion ($5.64 billion) in the first quarter of this year despite the intensified eurozone debt crisis, according to the city's Monetary Authority on Monday.

Return from a revaluation of dividends on Hong Kong equities worth HK$13.6 billion contributed to the Exchange Fund's gain, according to the Monetary Authority.

However, the Exchange Fund reported a loss from bonds at HK$2.9 billion.

After deducting interest and other expenses, the Exchange Fund's net investment income stood at HK$42.9 billion.

Monetary Authority Chief Executive Norman Chan warned the escalating crisis in Europe and the lack of growth momentum in the Chinese mainland and the United States pose risks on global financial markets.