The Exchange Fund may record an investment loss again in the second quarter, following the first- quarter deficit, Hong Kong Monetary Authority Chief Executive Joseph Yam said here Thursday.
Yam told the media that stock and debt markets' performances have been poor in the past few weeks due to an uncertain interest-rate trend.
"Amid such an unfavorable investment environment, the authority will adopt a more long-term investment strategy to minimize the short-term book loss," he said.
He said he believed it is good for the U.S. Federal Reserve to maintain the current interest rate, but whether the decision will have a positive effect on inflation remains to be seen.
Source: Xinhua
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