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Hong Kong millionaires moving cash to Singapore as political crisis lingers

Hong Kong police arrested more than 40 people after attempts to clear the remnants of a mass anti-government march resulted in clashes with demonstrators on Sunday

Topics
Hong Kong protests | Singapore | China

Chanyaporn Chanjaroen & Alfred Liu | Bloomberg 

Private bankers are being flooded with inquiries from investors in Hong Kong who are worried about the long-term effects of the political crisis in the Chinese city.

While the Hong Kong government has shelved the controversial law that sparked the latest round of unrest -- one that would have allowed criminal suspects to be transferred to the mainland for trial -- a new tier of wealthy investors are setting up ways to move their money out of the former British colony more quickly, bankers and wealth managers said. A major Asian wealth manager said it has received a large flow of ...

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First Published: Mon, July 15 2019. 10:04 IST
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