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BBA student claims second runner-up prize at joint university investment contest

08 May 2013

Wong Chi-kit (left) and Professor Joseph Fung with the HK$2,000 cash prize for the second runner-up in the competition
Wong Chi-kit (left) and Professor Joseph Fung with the HK$2,000 cash prize for the second runner-up in the competition

Wong Chi-kit, a BBA Year 2 student majoring in Accounting, recently won the second runner-up award at the Joint University Forex Investment Simulation Contest (JUFXIC) for his shrewd investment technique and analytical skills.

The contest consisted of three rounds. In the first round, contestants were required to conduct investment exchanges using a given capital of US$500,000 under a simulated setting for a month. In the second round, they had to hand in an essay of 1,500 words with an analysis of their investment strategies in the past month and a forecast of the foreign exchange market. Contestants were then given the opportunity to present their essays to the 30-judge panel in the final contest.

Chi-kit said that the competition was both challenging and rewarding. He said: “In fact, I don’t have any experience in currency trading, so it took me quite a long time to do research and clarify concepts during the competition. My knowledge of the field of foreign exchange is much more diversified now. The competition has also brought my confidence and presentation skills to a whole new level.”

Chi-kit affirmed that the award was due in large part to the willingness of Professor Joseph Fung of the Department of Finance and Decision Sciences to share his expertise. He said he would not have won without Professor Fung’s support and guidance during the competition, especially his valuable advice on essay writing and presentation.

Open to students of 10 local tertiary institutions, JUFXIC is an annual investment competition that aims to enhance students’ knowledge of foreign exchange investment and provide them with the opportunity to experience investment decision-making.