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As Hong Kong’s fortunes swelled alongside mainland China’s, the city’s richest man was already investing elsewhere. That move has shielded Li Ka-shing’s flagship company from the brunt of the tumult now enveloping the city.

CK Hutchison Holdings Ltd., which encompasses the Li family’s assets including ports, telecommunications and retail, counted on its home base for only 10 per cent of revenue last year. The share was 16 per cent in 2015 following the separation of its property business eventually into CK Asset Holdings Ltd. in a reorganization of the group.

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Years of diversification into Europe, North America and Australia have made CK Hutchison the least exposed among Hong Kong conglomerates to the months-long political protests against Beijing’s grip over the semi-autonomous city. After tumbling to a seven-year low this month, the shares of the company have pared some of their losses, outperforming local peers in the past week.