In global equity markets, the performance gap between London and Hong Kong has widened dramatically. Once one of the world’s most liquid stock markets, the London Stock Exchange (LSE) has haemorrhaged listings during the past decade and exposed deep-seated problems in Britain’s capital markets. In the first half of this year, fundraising from initial public offerings (IPOs) in London fell to the lowest level since 1995.
Hong Kong, by contrast, has staged an extraordinary revival that propelled…
