Earnings at Hong Kong Exchanges & Clearing Ltd. will decline this year after peaking in 2015 as turnover on the world’s fourth-largest stock exchange fades, according to BNP Paribas SA. The bourse operator is projected to report Wednesday a 31 percent drop in fourth-quarter net income from the previous three months, according to analyst estimates. Trading has slumped from last year’s record as the city’s benchmark stock index sank to its lowest level since June 2012 and an exchange trading link with Shenzhen failed to materialize.
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