Police are hunting four men with knives who stole around US$780,000 in cash on a street in Hung Hom, Kowloon on Friday morning.

At 10am, two members of staff from a jewelry shop, carrying backpacks containing US$740,000 and HK$360,000 (US$46,000) in cash, left their workplace to go to a currency exchange shop, Oriental Daily reported.

When the two men, aged 38 and 26, were crossing the road at the junction of Hok Yuen Street East and Hung Hom Road, three masked robbers, two of them two carrying knives, waylaid them.

Despite being attacked with the knives, the jewelry store workers stood up to the thieves, who later fled with the backpacks. The suspects ran to a white getaway vehicle and escaped.

The robbery was captured by various dashboard cameras and on mobile phones of passers-by.

The victims suffered injuries to their legs and were sent to Queen Elizabeth Hospital for treatment.

Chief Inspector of Kowloon City District Wong Chi-yu said that since passers-by who witnessed the robbery claimed the robbers were speaking Indian, police believe the suspects to be South Asians, according to a police briefing on Facebook.

Heavily armed police officers set up roadblocks across the city and a suspect vehicle on Hoi Ting Road in Olympian City was located in the afternoon. Masks and bloodstained knives were found in the car, news website HK01.com reported. No arrests have been made.

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