About $19 million in assets has been recovered at the Ying Kit Stock Company, which closed after its boss disappeared on Monday.
This is less than a fifth of the more than $110 million reported missing by clients.
Police are searching for owner Lam Kwan-kit, who is suspected of having stolen the money.
A source said the assets were among others held by the company and frozen by the Securities and Futures Commission since Thursday.
A commission spokeswoman said it would take time to check the total amount of the frozen assets.
Commercial Crime Bureau officers are going through Lam's personal assets.
The bureau's Superintendent Eric Wong Tat-wah said 20 more clients had filed complaints yesterday, bringing the number of alleged victims to 174. He said the sum claimed by the latest group was 'not a huge amount'.