Investors Turn Hong Kong’s Red Taxis Into Latest Bubble Market

Investors Turn Hong Kong’s Red Taxis Into Latest Bubble Market

Jerome Favre/Bloomberg

“Today the return rate of a taxi is higher than that of property,” said Kenny Wong, 42, an investor who owns four of the vehicles and purchased his latest last year. “I won’t sell it even if it increases to HK$8 million because there is no better investment for now. After selling it, what can I do except put my money into the bank?”