HKMA’s investment team “on guard” for turbulence later in the year

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Record returns may not continue into the second half of 2017, warns the HKMA deputy

The investment environment in the second half of the year is fraught with uncertainties as the exuberance in the global financial markets “appears to be borrowed”, rather than supported by economic fundamentals, says Eddie Yue, deputy chief executive at the Hong Kong Monetary Authority (HKMA).

In a blog post published on the HKMA website on July 30, Yue says the Exchange Fund has performed “reasonably well” so far this year, as global stock markets keep hitting new peaks. The investment return

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