HK's 'Superman' flying into headwinds

Hong Kong

BILLIONAIRE Li Ka-shing is so powerful, Hongkongers quip, he emanates a force field shielding the city from dangerous typhoons that could harm his businesses. Yet Mr Li's magic is showing signs of wearing off after his wealth shrank by US$1.3 billion last year amid headwinds from Europe - a trend that's likely to persist this year.

After Britain's unexpected decision to leave the European Union drove down shares of Mr Li's companies last year, Hong Kong's wealthiest tycoon is preparing for more uncertainty as elections loom in the Netherlands, France and Germany.

"The coming year of Rooster may usher in greater political and economic challenges, but the Rooster is a symbol for self-respect, ambition and perseverance," the 88-year-old Mr …