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Outlook dims for HKEx after wild year

Analysts downbeat on falling trading volumes; stock had risen 80% before a 35% drop erased US$16b in market cap

The conditions that drove HKEx to a record 7 months ago - global investor appetite for firms with China businesses and a surge in turnover through the Shanghai bourse partnership - are working against it now.

Hong Kong

THE outlook for Hong Kong's exchange operator is dimming after the wildest year for its investors since 2008.

So say analysts at Haitong International Securities Group Ltd and Morgan Stanley who have sell calls on Hong Kong Exchanges & Clearing Ltd (HKEx). They're not