Page 165 - Hong Kong Housing Society 香港房屋協會 - Annual Report 2018 年報

Notes to the Financial Statements 財務報表附註

5. Financial risk management objectives and 5. 財務風險管理目標及政策€ᚃ

policies (continued)
(d) Financial assets and liabilities measured at fair (d) 財務資產及負債按公允價࠽

value (continued) 計量 €ᚃ
Valuation techniques and inputs used in Level 1 and 2 第一級及第二級公允價࠽計量
fair value measurements 所使用之估࠽方法及數據
Investments whose values are based on quoted market prices ܲݺᚔ̹ఙజᄆП࠽Ͼྌᓥމ
in active markets, and therefore classified within Level 1, ୋɓॴٙҳ༟dܼ̍ݺᚔɪ̹
include active listed equities, exchange traded derivatives, ٰୃeʹ׸ה൯ርࠃ͛ʈՈe
government treasury bills and certain sovereign obligations. ִ݁਷ࢫවՎʿ߰ʍ˴ᛆවਕf

Financial instruments that trade in markets that are not ɭίʔൖމݺᚔ̹ఙʫ൯ርШ
considered to be active but are valued based on quoted ̹ܲఙజᄆeʹ׸ਠజᄆאл
market prices, dealer quotations or alternative pricing sources ̙͜ᝈ࿀ᅰኽٙՉ˼֛ᄆԸ๕
supported by observable inputs are classified within Level 2. ٙৌਕʈՈேྌᓥމୋɚॴf
These include investment-grade corporate bonds, sovereign ༈ഃʈՈܼ̍ҳ༟ॴйٙΆุ
obligations and certain unit trusts. As Level 2 investments වՎe˴ᛆවਕʿݔԬఊЗڦ
include positions that are not traded in active markets and/or ৄਿږf͟׵ୋɚॴҳ༟ܼ̍
are subject to transfer restrictions, valuations may be adjusted Ԩڢ׵ݺᚔ̹ఙ൯ርʿŊא඲
to reflect illiquidity and/or non-transferability, which are աᔷᜫࠢՓٙࡑᆵdП࠽̙ঐ
generally based on available market information. ʚ˸ሜ዆˸ˀ݈ڢݴਗ׌ʿŊא
ʔ̙ᔷᜫ׌dՉɓছɗ˸̙੻
̹ఙ༟ࣘމԱኽf

The Level 3 includes financial instruments which values are ୋɧॴܼ̍ܲʔ̙ᝈ࿀ᅰኽП
based on unobservable inputs. These are mostly unit trusts. ࠽ʘৌਕʈՈd˴ࠅމఊЗڦ
Their net asset values are provided by respective administrators ৄf༈ഃ༟ପଋ࠽͟΢Іʘ၍
of the unit trust. ଣɛה౤Զf

香港房屋協會2017/18年度年報 163