Like Tree62Likes

HK Riots. Sending money back home?

Reply
Page 1 of 5 1 2 3 4 ... LastLast
  1. #1

    Join Date
    Oct 2019
    Posts
    5

    HK Riots. Sending money back home?

    Looking at the situation here, what is everyone doing? Are people sending their money back home, keeping it here?


  2. #2

    Join Date
    May 2009
    Posts
    5,439

    What does that has to do with anything? Are Banks start to collapse?


  3. #3

    Join Date
    Oct 2019
    Posts
    5

    Not yet, but there were rumours about capital controls being put into place. Just asking to find out what other people are thinking as these forums tend to be home to a people a lot wiser than myself! :-)


  4. #4

    Join Date
    Dec 2002
    Location
    ???
    Posts
    28,624
    Quote Originally Posted by LukeUk
    Not yet, but there were rumours about capital controls being put into place. Just asking to find out what other people are thinking as these forums tend to be home to a people a lot wiser than myself! :-)
    Where is home?

    While there are rumors - there will always be rumors, I personally think that HK is safe from capital controls. Speaking to people in asset management etc, there is some movement in the billionaire / multi-millionaire grade, but there are no runs on the banks. Some people are reducing their HK exposure, but only slightly.

    About the only think I'd do at this point is - increase the "walking around money" I keep. From a few hundred to say 2-3K HKD.

    And no, we have not hit the stores and bought six months worth of toilet paper.

  5. #5

    Join Date
    Oct 2010
    Posts
    18,885

    It will be a cold day in hell before capital controls are introduced in Hong Kong. This isn't Malaysia or Thailand.

    shri, LukeUk, coffee_break and 7 others like this.

  6. #6

    Join Date
    Jul 2004
    Posts
    3,181

    Or probably time to bring back money in while noise is about sending out and wait for opportunity..

    LukeUk likes this.

  7. #7

    Join Date
    Oct 2005
    Posts
    14,209

    I’m no longer based in HK but do have a lot of assets I.e shares and bank accounts and I’m keeping it there for now.

    I don’t see any reason to withdraw funds apart from as and when I need it.

    shri and traineeinvestor like this.

  8. #8
    bdw
    bdw is offline

    Join Date
    Feb 2009
    Posts
    5,551

    I'm sending money to Australia now because the HKD is relatively strong and the AUD is piss weak. So depending on your 'home', you should probably consider to do the same for this very fundamental reason. Nothing to do with the current social unrest.

    shri, MandM!, jgl and 2 others like this.

  9. #9

    Join Date
    Dec 2002
    Location
    ???
    Posts
    28,624

    I understand where this whole "capital flight" thing has come from...

    https://twitter.com/MoneyTalkR3/stat...38098114924544

    Am I the only one who goes "2%" drop is a "normal bad day"?

    Name:  Screenshot 2019-11-13 at 10.38.41 AM.png
Views: 1145
Size:  48.3 KB


  10. #10

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,331

    I'm confident in HK banks at this time. HK is relatively safe to keep money and move it freely.


Reply
Page 1 of 5 1 2 3 4 ... LastLast