Shanghai/Beijing — China’s decision to suspend a tie-up between the Shanghai and London stock exchanges is less a blow for markets than a warning shot to Prime Minister Boris Johnson as he readies the UK for Brexit.

According to people familiar with the matter, the Chinese government has temporarily halted the Shanghai-London Stock Connect on political grounds. One person said Britain’s stance on the pro-democracy protests in Hong Kong is one of the issues that prompted the move, and that how relations with the UK proceed will determine whether the link is restored...

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