This is a rough time of the year. In both HK and SG, you have bonuses paid around Chinese NY, along with 13 month this month. Companies know this and don't expect to find quality candidates until after CNY.
I'm trying to fill a position in Singapore (quality role, north of $10k/month as you said) and my HR department basically told me no one is seriously looking (on either side of the fence) until after CNY.
I'm thinking that the assumption is anyone looking right now must not be 'quality' because 'quality' will be getting a good bonus for CNY and wouldn't want to leave before that. Yes, I realize this is quite myopic (as not every company pays a bonus around CNY), but think of it from a local's perspective who's only worked for a local company with policies like this. This is who fills the HR departments even at MNCs here. (Sorry SMS! Exception for you of course )