Police have arrested three suspects after suitcases containing 450 million Japanese yen (US$4.1 million) were snatched by a group of eight people in a daylight robbery in Kowloon on Friday.

The three men, aged from 21 to 38, are from Pakistan and Nepal. One of them had obtained a Hong Kong identity card, the Oriental Daily reported.

Five men of Indian origin employed by a currency exchange in Chungking Mansions in Tsim Sha Tsui took two suitcases with the cash to a bank on Nathan Road at 11.35am on Friday.

A gang of eight people who wore masks and hats attacked the Indian employees on Bristol Avenue, wielding knives and snatched the suitcases full of cash.

Four robbers escaped in a seven-seat vehicle while the rest ran away in different directions.

Police immediately set up various roadblocks on several main roads.

At 2:23pm, officers spotted the suspected getaway vehicle on Lai Chi Kok Bridge heading toward the New Territories. Four suspects suddenly got off the car and tried to escape but two of them were arrested by the police, Apple Daily reported.

One suspect ran into an opposite lane and jumped from the bridge – but broke one of his legs. He was later arrested by police at Mount Sterling Mall in Mei Foo. Another suspect managed to escape.

Police found the suitcases with the money in the vehicle and are hunting the five other members of the gang that staged the heist.