HKEx's LME bid raises hackles in London

The 1.4 billion bid by Hong Kong Exchanges Clearing HKEx for the London Metal Exchange LME is raising hackles in the UK, where some people see it as yet more hollowing out of the British economy by cash-rich plunderers from overseas.

From houses in Kensington, to water companies in Northumbria, to train lines in Kent, there really isn’t much that hasn’t been sold to Asian buyers. The LME is just the latest asset to be picked up.

The deal itself makes good sense, especially for HKEx, which can use it to diversify away from big-ticket Chinese IPOs and the fast-growing equity derivatives business....