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Goldman Says Up to $4 Billion Moved From Hong Kong to Singapore Amid Unrest

  • Protests in the former British colony have grown more violent
  • ‘The debate on Hong Kong outflow/liquidity will remain active’
Bloomberg business news
Goldman Sees Hong Kong Turmoil as $4 Billion Benefit for Singapore
Updated on

The potential benefit to Singapore from the turmoil in Hong Kong: $4 billion.

That’s the upper end of an estimate from Goldman Sachs Group Inc. of the money investors have moved to Singapore amid escalating political protests in the former British colony. The New York-based bank estimated that there has been a maximum outflow of Hong Kong dollar deposits totaling $3 billion to $4 billion to Singapore, an alternative financial center for the region, as of August.