Utilize the input text as a context reference, choose the right relationship between CLSA and Hong Kong from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

- CLSA has recommended reducing the weighting of retail stocks because Hong Kong has lost its advantage as a shopping paradise amid local currency strength while tourists choose to visit Japan and Korea.

Answer: headquarters_location