HK Exchange Fund not intended to invest in virtual assets: HKMA

Eddie Yue. SING TAO
Eddie Yue. SING TAO

Hong Kong’s Exchange Fund has no intention to invest in virtual assets as the city prioritizes stability amid a volatile environment.

Hong Kong Monetary Authority chief executive Eddie Yue Wai-man said the investment of Exchange Fund – which backs the Hong Kong dollar – need to consider the liquidity, stability, long-term returns and diversification.

Yue disclosed that the Exchange Fund has investmented in metals and some assets in mainland China.

But the authority has no intention to allocate some capital from the Exchange Fund to to virtual assets, as it is difficult to predict shocks caused by external environmental and geopolitical factors, Yue noted.

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