Outlook dims for HKEx after wild year

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 alone, with the proportion of analysts making similar recommendations rising this month to the highest since November 2013. HKEx soared 80 per cent this year through a May peak before a 35 per cent drop erased US$16 billion in market capitalisation, more than the entire value of London Stock Exchange Group plc.