Goldman Sachs Group Inc. estimated in October that as much as US$4 billion ($5.4 billion) may have flowed to Singapore due to the turmoil.
Non-resident deposits made up 7.5% of total deposits by non-bank customers of $682.7 billion in November, up slightly from 7.35% of the total in October.
Major banks and regulators have acknowledged that the rich in Hong Kong have moved some assets to locations including Singapore since the anti-government protests started in June – though they have stressed that the amount has been small.
In Hong Kong, local dollar deposits fell 0.1% in November to HK$6.9 trillion ($1.2 trillion) from a month earlier, according to official data published Tuesday.
Non-resident deposits in Singapore reflect money from individuals and companies with registered addresses outside Singapore, as well as Singaporeans working abroad.
