A surge in early withdrawal applications from the city's pension fund follows the dramatic increase in the number of UK visa applications by Hong Kong residents.
There is little sign that new restrictions to press freedom had in any way impacted the city's financial markets, but the longer-term ramifications could prove very damaging.
AsianInvestor concludes revisiting last year's predictions by judging whether our views on Hong Kong's enduring financial strength and assessment of a Brexit deal were correct.
The national security law looks set to forever change how the Asian financial centre functions, and not in a good way. Candour is set to diminish, and social tensions may rise.
The national security law will tarnish the territory's financial credentials, but financial firms keen to expand in China are expected to maintain their presence in Hong Kong.