Two Hong Kong banks cut their valuation of used homes as city’s civic unrest threatens to knock property bull run off its footing

Two of Hong Kong’s biggest commercial banks cut their valuation of pre-owned homes in several housing estates in anticipation of declining prices, after the city was rocked for the past month by record number of street protests.HSBC and Bank of China (Hong Kong), two of the city’s three currency printing banks, cut their valuations for used homes in the New Territories and Kowloon by up to 3.6 per cent, according to data on their websites.“Valuations have dropped as a result of the political …

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