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Singapore has overtaken Hong Kong to become the third ranked financial center by just two points. Tokyo, in fifth place, is 72 points behind London which remains the top financial center, according to the 19th Global Financial Centres Index (GFCI 19) which rates 86 financial centers.
"Whilst London and New York still lead the field, the next three centers are all Asian," says Mark Yeandle, Associate Director at the Z/Yen Group and the author of the GFCI. "Five of the top ten centers...