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Finance

Finance leads Hong Kong's first business exodus in 11 years

Barings joins Deutsche Bank in looking to Singapore as alterative base

HONG KONG -- The number of foreign companies with offices in Hong Kong has fallen for the first time in 11 years, with a notable drop in financial firms, as concerns over social unrest and the city's political autonomy push businesses to consider other Asian hubs.

U.S. investment management firm Barings on Thursday said  it will open an office in Singapore to serve as its hub for Southeast Asia operations. 

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