Japanese online brokerage SBI mulls withdrawal from Hong Kong

Japanese online financial firm SBI Holdings Inc. is considering withdrawing from or downsizing its business in Hong Kong, a source familiar with the plan said Wednesday as China seeks to tighten its grip on the semi-autonomous region.The plan comes in response to growing concern about Hong Kong’s standing as a financial hub following Beijing’s imposition of a security law that sparked an international outcry.The United States has been stepping up pressure on China by revoking the special treatment extended to Hong Kong.SBI carries out foreign exchange and securities business as well as medicin…

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