I know more about HK than SIngapore, so I’ll tell you what I know and hopefully help you decide.
Assuming you pass level 2, and you are just looking for a financial anlayst role, your chances are a lot better than PE/VC. Would it be easy? Probably not. If it were a few years back, I would say your chances are pretty good. But the financial job market in HK has been flooded with applicants, and it’s nowhere near as easy nowadays to get a job. In HK, you typically need to speak both Mandarin, Cantonese, and English to get the best jobs. They target English speaking countries, and mainland China.
I would imagine passing level 2 means signifcantly more than passing level 1, but you have to remember it’s Asia. Those kids study for exams like their lives depended on it (I would know since I lived there and researched there during undergrad).
It’s a pretty daunting challenge to take to just fly there and hope someone would offer you a job and visa. There pay is also very low (at least compared to similar jobs in the US, I don’t know the equivalent in India), and they’ll work you to death. I have a friend at MS in HK working up to 120 hours a week.
Another thing, their views on education is US > Europe > HK, China, TW > rest of the world. I don’t know where you did your schooling, but that’s something to keep in mind.