Hong Kong wealth boom momentum is lifting bank profits and drawing global firms back to the city, as wealth and investment management income grows at double-digit rates, industry executives said. HSBC reported a 50% jump in deposits in its latest quarterly results, with about 70% of the increase coming from non-residents, while the Hang Seng Index is up more than 30% year to date. Peter Stein, chief executive of the Asia Securities Industry and Financial Markets Association,

Hong Kong cross-border wealth is rebounding strongly and is poised to surpass Switzerland in 2025, with USD2.9tr projected by year-end,...