Hong Kong’s fortunes are believed to rise and fall with those of China. Yet the link between “Asia’s World City” and its northern engine of growth is becoming tenuous.

On Thursday, Burberry and Richemont said sales in China were better than expected. The glow did not extend to Hong Kong. Burberry’s sales there and in Macau were down a fifth; Richemont’s revenues in the southern city fell “significantly”. Hong Kong jeweller Chow Tai Fook had bad numbers, too. Worse, the bad news extends beyond luxury — a victim of China’s war against corruption. Also on Thursday Bossini, an apparel retailer, said second-half profits fell between 80 and 90 per cent. It blamed fewer mainland visitors to Hong Kong and weak local sentiment. November tourist arrivals from China fell 16 per cent on the year, the fastest pace in 12 months; retail sales were down 8 per cent for the month.

Negative sentiment is likely to persist. This month’s disappearance of a seller of books about China’s Communist Party has resurrected antipathy towards the mainland. With that constituency accounting for more than three-quarters of all visitors, its alienation is significant.