With the ban in India and threat of US ban, this move may be a PR move to say to the US Feds, "No, we're not a CCP tool. We've pulled out of the HK market to avoid data sharing with the CCP!" Essentially sacrificing the already low HK market to keep the much bigger Rest of the World market.
Of course, no one in tech believes them. We'll see if the public and governments believe them.
This move feels very very weird.