Whoops! I made a booboo and misidentified the following location as Macau's Inner Harbour.
Well, the sequence involves Bud fleeing from some unsavoury types in the Macau Floating Casino. He runs outside and jumps onto a small boat before hurling himself into the water (Bud was actually and Italian Olympic swimmer at an earlier stage in life). Well, stone me if it wasn't actually the water in Repulse Bay he jumps into. You can see by the small islets in the background that this scene was filmed very close to the previous Tin Hau Temple one.