The South China Morning Post reported that the Bank of East Asia’s Shanghai branch has halted the opening of Hong Kong accounts designed for overseas investment. This development signaled a broader tightening of capital controls, prompting immediate concern regarding the cross-border operations of major financial institutions.

HSBC, Standard Chartered, and Prudential experienced a significant retreat in London, with share prices dropping between 5% and 6.3%. Meanwhile, AIA Group shares slid 6.8% in Hong Kong. Reports from a local HSBC branch in Lujiazui added to the unease, with staff emphasizing that all deposits must strictly adhere to Hong Kong’s evolving regulatory framework. The affected firms have yet to provide official comment on the reported policy shifts.