This will only hurt US companies. Apparently it is against national security in hk for banks to cooperate with the sanctions, and the US has made it illegal for them to serve the sanctioned individuals, so banks are stuck. What will end up happening and it's looking more likely than not is that foreign banks might be slowly phased out in hk. And same issue with the wechat ban, what will end up happening is that barely anyone in China will buy an iPhone now because it won't have wechat.
At the end of the day the national security law in hk still exists, and it is ruining hk.