Worried Hong Kong residents are moving money out as protests escalate

Section:

By Steven Russolillo, Joanne Chiu, and Eli Binder
The Wall Street Journal
Sunday, August 18, 2019

Money is leaking out of Hong Kong as months of protests raise concerns about the city's future.

The local currency has weakened rapidly since early July, a move analysts attribute partly to outflows. Some businesses say they are seeing money move abroad, and several individuals who spoke to The Wall Street Journal said they have either swapped money into other currencies or are considering doing so.

... Dispatch continues below ...



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Sarah Fairhurst, a 52-year-old partner at the Lantau Group, an economic consulting firm, said she transferred 200,000 Hong Kong dollars (about $25,500) into British pounds last week because of concerns about the protests.

"It's very unsettling here," said Ms. Fairhurst, who has lived in Hong Kong for 12 years. She said seeing videos of police using tear gas near her office have made her particularly nervous. "I don't know what's going to happen, but I know that I don't want my money trapped here." ...

... For the remainder of the report:

https://www.wsj.com/articles/worried-hong-kong-residents-are-moving-mone...

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