Capital inflows to Singapore to gain momentum as Hong Kong turmoil persists

Pedro Gonçalves
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Capital inflows to Singapore to gain momentum as Hong Kong turmoil persists

The continuing Hong Kong unrest is pushing capital towards rival financial centre Singapore, with at least $4bn transferred. While the estimated $4bn that moved over to Singapore from April to August is "very miniscule" compared with Hong Kong's $1.7trn in total deposits, the "trend will likely continue as the situation worsens in Hong Kong," Ju Ye Lee, a Singapore-based economist with Maybank Kim Eng Securities, told Bloomberg. Earlier this week, the chief of Singapore's central bank h...

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