# Hong Kong Exchange Fund earnings plunge 74% as HKMA warns of further market turbulence

https://mins.news/en/item/131848

- South China Morning Post, 2026-11-06 05:35 UTC
- Economy
- Original: https://www.scmp.com/business/banking-finance/article/3373507/hong-kongs-exchange-fund-earnings-tumble-74-hkma-warns-more-market-turbulence

> Hong Kong’s Exchange Fund, used to defend the local currency, earned HK$18.6 billion in the third quarter, down 74% from HK$70.8 billion a year earlier. Earnings for the first nine months of 2026 fell 39.6% year on year to HK$171.9 billion. The HKMA warned that market turbulence could persist.