The leaders of Hong Kong Exchanges & Clearing have sketched out an optimistic vision of global growth to justify their bold 32 billion pound ($39.5 billion) bid to buy the London Stock Exchange Group.
But instead of a sign of confidence, the offer is arguably a last desperate attempt to keep HKEX relevant in a shifting environment where China is widening access for foreign investors to its markets and its own new equity listings are showing signs of decline.
