(Reuters) - 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 capitalization slumped 16.7 percent last year, saw a sharper drop in the ranks of people with more than $1 million to invest as a larger proportion of that wealth was locked in equity. Full story
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