Investors who take a sustainable approach to allocating capital may be reevaluating putting their money into Hong Kong after the city implemented a national security law, an analyst said on Friday.
"We expect companies to support improvements in protections for citizens and not back their removal," said Roland Bosch, Federated Hermes' sector lead for financial services. Bosch is responsible for corporate engagements in Europe and the U.S.This could just be the tip of the iceberg, said Collier. He suggested other funds may be pushed by labor unions.
Large funds may start to readjust investment protocols and operations in Hong Kong, affecting the city's position as a international financial center, said Collier.similar concerns about both HSBC and Standard CharteredThe firm, a top shareholder of both banks, said it was "uneasy" with the public support for the law. It said it expects "both companies to confirm that they will also speak out publicly if there are any future abuses of democratic freedoms connected to this law.
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