HKMA official not optimisic about Exchange Fund

HONG KONG - A Hong Kong Monetary Authority (HKMA) official said she was not optimistic about the investment return of the territory's Exchange Fund for 2001 because of volatility in the U.S. stock market.

Amy Yip, executive director for reserves management, said in a television interview that she hoped the Exchange Fund's return in the second half would be better than the first half.

Hong Kong's Exchange Fund, which backs the local currency, has investments in the form of foreign exchange, local

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