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"From what we know, there are nine things that contributed to this accident," he said. "If one of the nine hadn't occurred, maybe the accident wouldn't have occurred."

"Given the emphasis on monetary flexibility at the recent meeting of the top leadership, we think that policymakers will likely accelerate the countercyclical adjustments to offset the epidemic impact," said Steven Zhang, chief economist at Morgan Stanley Huaxin Securities.

"Financial technology is at the forefront of the new economy, and its development is greatly affected by factors including policies and regulations. Compared with their US counterparts, Hong Kong's stock exchange executives hold a more prudent attitude toward certain types of fintech companies, such as those focusing on blockchain technologies, due to market uncertainties in this field. It will still take time for mainland fintech companies to make business innovations and improve operational performance after they have met IPO application requirements in the US and Hong Kong," said King Li, TMT assurance partner at EY.

"For years, Causeway Bay has long been a magnet for shoppers worldwide and the summer is traditionally a peak season for retailers in the area," said Henry Jong, senior regional sales director of Centaline Commercial, a realty agency.

"Global risks are intensifying, but the collective will to tackle them appears to be lacking. Instead, divisions are hardening," said the report.