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- 36 - - 10 -25 %u8ca1%u52d9%u98a8%u96aa%u7ba1%u7406(%u7e8c) 25 FINANCIAL RISK MANAGEMENT (Continued)(b) %u5e02%u5834%u53ca%u4fe1%u8cb8%u98a8%u96aa(%u7e8c) (b) Market and credit risks (Continued)(ii) %u8ca8%u5e63%u98a8%u96aa(%u7e8c) (ii) Currency risk (Continued)%u4e0b%u8868%u6982%u8ff0%u623f%u59d4%u6703%u5728%u5831%u544a%u65e5%u671f%u7684%u8ca8%u5e63%u98a8%u96aa%uff1a The table below summarises the Authority%u2019s currency exposures at the reporting date:2024 2023%u8cc7%u7522Assets%u8ca0%u50b5Liabilities%u8cc7%u7522Assets%u8ca0%u50b5Liabilities%u767e%u842c%u5143(%u6e2f%u5e63)HK$M%u767e%u842c%u5143(%u6e2f%u5e63)HK$M%u767e%u842c%u5143(%u6e2f%u5e63)HK$M%u767e%u842c%u5143(%u6e2f%u5e63)HK$M%u7f8e%u5143 US dollars 6,355 53 4,346 54%u6b50%u5143 Euro 695 13 848 39%u5176%u4ed6 Others 1,291 11 1,311 868,341 77 6,505 179%u5176%u4ed6%u5927%u90e8%u5206%u70ba%u4e3b%u8981%u5df2%u767c%u5c55%u570b%u5bb6%u7684%u8ca8%u5e63%u3002%u654f%u611f%u5ea6%u5206%u6790%u986f%u793a%uff0c%u5728%u5831%u544a%u65e5%u671f%u7f8e%u5143%u514c%u6e2f%u5143%u7684%u532f%u7387%u51fa%u73fe 0.5% (2023%uff1a0.5%) %u5347%u5e45%u2571%u8dcc%u5e45%u7684%u60c5%u6cc1%u4e0b%uff0c%u5e74%u5167%u76c8%u9918%u6703%u589e%u52a0 %u2571 %u6e1b %u5c113,200 %u842c%u6e2f%u5143 (2023%uff1a2,100 %u842c%u6e2f%u5143)%u3002%u654f%u611f%u5ea6%u5206%u6790%u986f%u793a%uff0c%u5728%u5831%u544a%u65e5%u671f%u5916%u5e63(%u7f8e%u5143%u9664%u5916)%u514c%u6e2f%u5143%u7684%u532f%u7387%u51fa%u73fe 5% (2023%uff1a5%) %u5347%u5e45%u2571%u8dcc%u5e45%u7684%u60c5%u6cc1%u4e0b%uff0c%u5e74%u5167%u76c8%u9918%u6703%u589e%u52a0%u2571%u6e1b%u5c119,800 %u842c%u6e2f%u5143 (2023%uff1a1.02 %u5104%u6e2f%u5143)%u3002%u64ec%u5099%u4e0a%u8ff0%u654f%u611f%u5ea6%u5206%u6790%u6642%uff0c%u5047%u8a2d%u4e00%u5207%u5176%u4ed6%u8b8a%u6578%u7dad%u6301%u4e0d%u8b8a%uff0c%u532f%u7387%u7684%u8b8a%u52d5%u5df2%u61c9%u7528%u65bc%u5728%u5831%u544a%u65e5%u671f%u6301%u6709%u7684%u91d1%u878d%u5de5%u5177%u3002Others include mainly currencies of major developed countries. Sensitivity analysis based on a 0.5% (2023: 0.5%) increase/decrease in the exchange rate of the US dollar against the Hong Kong dollar at the reporting date shows that the surplus for the year would have increased/decreased by HK$32 million (2023: HK$21 million).Sensitivity analysis based on a 5% (2023: 5%) increase/decrease in the exchange rates of the foreign currencies other than US dollar against the Hong Kong dollar at the reporting date shows that the surplus for the year would have increased/decreased by HK$98 million (2023: HK$102 million).The above sensitivity analyses have been prepared assuming that the change in exchange rates had been applied to the financial instruments in existence at the reporting date, with all other variables being held constant.(iii) %u80a1%u50f9%u98a8%u96aa (iii) Equity price risk%u80a1%u50f9%u98a8%u96aa%u662f%u56e0%u80a1%u50f9%u8b8a%u52d5%u800c%u5f15%u81f4%u8667%u640d%u7684%u98a8%u96aa%u3002%u623f%u59d4%u6703%u7684%u80a1%u672c%u6295%u8cc7%u6d89%u53ca%u80a1%u50f9%u98a8%u96aa%uff0c%u56e0%u70ba%u9019%u4e9b%u6295%u8cc7%u7684%u50f9%u503c%u6703%u56e0%u80a1%u50f9%u4e0b%u8dcc%u800c%u6e1b%u5c11%u3002%u65bc2024 %u5e74 3 %u6708 31 %u65e5%uff0c%u6240%u6709%u80a1%u672c%u6295%u8cc7%u5747%u5982%u9644%u8a3b 15 %u6240%u793a%uff0c%u4ee5%u516c%u5e73%u503c%u8a08%u91cf%u3002%u654f%u611f%u5ea6%u5206%u6790%u986f%u793a%uff0c%u5728%u5831%u544a%u65e5%u671f%u80a1%u50f9%u51fa%u73fe 15% (2023%uff1a15%) %u5347%u5e45%u2571%u8dcc%u5e45%u7684%u60c5%u6cc1%u4e0b%uff0c%u5e74%u5167%u76c8%u9918%u6703%u589e%u52a0 %u2571 %u6e1b%u5c11 1 3 . 2 9 %u5104%u6e2f%u5143(2023%uff1a11.15 %u5104%u6e2f%u5143)%u3002%u64ec%u5099%u654f%u611f%u5ea6%u5206%u6790%u6642%uff0c%u5047%u8a2d%u4e00%u5207%u5176%u4ed6%u8b8a%u6578%u7dad%u6301%u4e0d%u8b8a%uff0c%u80a1%u50f9%u7684%u8b8a%u52d5%u5df2%u61c9%u7528%u65bc%u5728%u5831%u544a%u65e5%u671f%u6301%u6709%u7684%u80a1%u672c%u6295%u8cc7%u3002Equity price risk is the risk of loss arising from changes in equity prices. The Authority%u2019s equity investments are subject to equity price risk since the value of these investments will decline if equity prices fall. As at 31 March 2024, all equity investments were measured at fair value as shown in Note 15.Sensitivity analysis based on a 15% (2023: 15%) increase/decrease in equity prices at the reporting date shows that the surplus for the year would have increased/decreased by HK$1,329 million (2023: HK$1,115 million). This sensitivity analysis has been prepared assuming that the change in equity prices had been applied to the equity investments in existence at the reporting date, with all other variables being held constant.(iv) %u5176%u4ed6%u5e02%u5834%u98a8%u96aa (iv) Other market risk%u5916%u532f%u57fa%u91d1%u5b58%u6b3e%u5229%u606f%u56e0%u6bcf%u5e74 1 %u6708%u91d0%u5b9a%u7684%u606f%u7387(%u9644%u8a3b 11)%u51fa%u73fe%u8b8a%u52d5%u800c%u53d7%u5176%u4ed6%u5e02%u5834%u98a8%u96aa%u5f71%u97ff%u3002%u654f%u611f%u5ea6%u5206%u6790%u986f%u793a%uff0c%u4ee5 2023 %u5e74%u53ca 2024 %u5e74%u7684%u606f%u7387%u51fa%u73fe 50 %u57fa%u9ede%u5347%u5e45%uff0f%u8dcc%u5e45%uff0c%u800c%u4e00%u5207%u5176%u4ed6%u8b8a%u6578%u7dad%u6301%u4e0d%u8b8a%u7684%u60c5%u6cc1%u4e0b%uff0c%u5e74%u5167%u76c8%u9918%u6703%u589e%u52a0%uff0f%u6e1b%u5c111.98 %u5104%u6e2f%u5143 (2023%uff1a1.81 %u5104%u6e2f%u5143)%u3002Interest on the placements with the Exchange Fund is subject to other market risk arising from changes in the interest rate which is determined in January each year (Note 11). Sensitivity analysis based on a 50 basis points increase/decrease in the interest rates for 2023 and 2024, with all other variables being held constant, shows that the surplus for the year would have increased/decreased by HK$198 million (2023: HK$181 million).- 36 -