While Iraq may be front and centre on most investors' radar screens, those putting their money to work in Hong Kong have got a new factor to worry about - how the 24-hour opening of the mainland border will affect their holdings.
Core Pacific-Yamaichi is one of the first brokerages out of the gate with an analysis of the winners and losers from freer traffic flows with China.
Top of their agenda was looking at the effects on the SAR property sector from greater integration with the Pearl River Delta as battered Hong Kong residential prices are expected to fall further, particularly in the New Territories, with people buying cheaper flats over the border instead.
Stocks such as Henderson Land and Sun Hung Kai Properties, with their relatively larger land banks in the New Territories, are often cited as stocks likely to be hit by the border factor.
However, Core Pacific-Yamaichi believes that 'concern has been exaggerated' for Hong Kong property stocks.
'We believe the news has already been priced in for the Hong Kong listed property counters,' the report said.