Live news updates: Shares sharply down on debuts for duo behind Hong Kong’s biggest IPOs


The Hong Kong skyline pictured in March. The city will host a major financial forum in November
The Hong Kong skyline pictured in March. The city will host a major financial forum in November © Dale De La Rey/AFP/Getty

Goldman Sachs’ David Solomon, James Gorman, the chief executive of Morgan Stanley, and Citigroup’s Jane Fraser will attend a Hong Kong government-arranged financial forum after the city scrapped its hotel quarantine requirement.

The quarantine scheme, imposed since early 2020 along with a raft of other restrictions, has isolated Hong Kong, sparked an exodus of residents and thrown its economy into recession.

At one point, incoming travellers had to spend at least three weeks in a hotel, and if they tested positive were isolated in government hospitals or basic isolation facilities.

Along with the US bank chiefs, Colm Kelleher, the chair of UBS, Jonathan Gray, the president of Blackstone, Joseph Bae, the co-chief executive of KKR, and Valérie Baudson, the chief executive of Amundi, will also attend the Global Financial Leaders’ Investment Summit, to be hosted by the Hong Kong Monetary Authority.

Rob Kapito, Blackrock’s president, will represent the asset manager at the Hong Kong event, while HSBC and Standard Chartered had already confirmed their chief executives would be at the forum.

The conference in the first week of November coincides with the return of the Rugby Sevens tournament, which was previously one of the biggest corporate networking events in Asia.

While authorities hope the November gatherings will lay the foundation for the city’s economic revival, businesses warn there are still too many restrictions on incoming travellers.

Residents and visitors no longer need to isolate in a hotel, but on arrival they are barred from entering restaurants and bars for three days, and subject to a week of tests.

Masks are still compulsory outdoors and social distancing limits apply to public gatherings.



Read More: Live news updates: Shares sharply down on debuts for duo behind Hong Kong’s biggest IPOs

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