Growing uncertainty begins to take its toll on Hong Kong

A banking source in Hong Kong said the super rich have begun to shift their assets to Singapore, which analysts said is looking increasingly enticing to foreign businesses as the location for their headquarters and key staff.
A banking source in Hong Kong said the super rich have begun to shift their assets to Singapore, which analysts said is looking increasingly enticing to foreign businesses as the location for their headquarters and key staff.ST PHOTO: LIM YAOHUI

HONG KONG - Growing uncertainty because of trade tensions between the United States and China as well as the recent unrest over a divisive extradition Bill have apparently given pause for thought for the wealthy in Hong Kong as well as foreign businesses.

A banking source in the territory said the super rich have begun to shift their assets including to Singapore which, analysts said, is looking increasingly enticing to foreign businesses as the location for their headquarters and key staff.

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