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HKEx’s takeover of LME is ‘risky bet’ that could yet pay off

Posted on 21 July 2014

While the Hong Kong Exchanges and Clearing has been busy getting into bed with former rival Shanghai to develop cross-trading of stocks, some brokers wonder whether the local bourse was wise to cut a big cheque to buy the London Metal Exchange.
“It is hard for the HKEx to break even by paying such a high price to buy the LME. The takeover is a short cut for the HKEx to expand into commodity trading but the high price means it is a risky bet,” said Joseph Tong Tang, executive director of Sun Hung Kai Financial………………………………………..Full Article: Source


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