Hong Kong's sovereign wealth fund suffers record loss

Hong Kong (AFP) Jan 30, 2023

Hong Kong's half-trillion-dollar investment fund set up to defend the financial hub's currency has suffered its largest loss on record of more than HK$200 billion ($25 billion), authorities said Monday. The Exchange Fund, the semi-autonomous Chinese city's de facto sovereign wealth fund, is one of the largest public investment vehicles in the world. Its slump last year was only the third