Singapore overtakes Hong Kong as home to Asia’s wealthy

Singapore overtakes Hong Kong as home to Asia’s wealthy: SINGAPORE, June 20 – Singapore overtook Hong Kong as home to Asia’s wealthy last year as declining stock markets hit the former British territory a lot harder than its Southeast Asian rival, according to Capgemini and RBC Wealth Management. Hong Kong, whose stock market capitalisation slumped 16.7 per cent last year, saw a sharper drop in the ...