A main federal retirement fund will not invest in the Hong Kong stock market, as the risks of Chinese securities are increasing amid U.S. efforts to counter the communist regime.
The Federal Thrift Retirement Investment Board (FTRIB), a government agency that manages the federal retirement plan, voted unanimously to adjust the benchmark index it uses for its international stock investment fund, excluding all investment in Hong Kong, the board said in a Nov. 14 statement. The fund doesn’t invest in mainland China, and its previous plan to invest in Chinese stocks was halted amid strong opposition in Washington.
