Hong Kong Crypto Stocks Rally Across the Board — Leading Biotech Surges Nearly 9%
Source Tradingkey
TradingKey – With just three days left until Hong Kong’s Stablecoin Ordinance takes effect, crypto-stocks on the HKEX surged sharply on Monday, July 28.
Despite the Hang Seng Index rising and then pulling back intraday, crypto concept stocks posted strong gains:
- Leading Biotech (HK.00399) jumped 8.77%, nearing its July 2 peak
- YF Finance (HK.00376) spiked over 9% in early trading, later settling at +5.68%
- Guotai Junan International (HK.01788) rose nearly 5%
- ZhongAn Online (HK.06060) gained over 3%
- Golden Surge Investment (HK.01328) climbed more than 2%
- Yika (HK.09923), OSL Group (HK.00863), and Delin Holdings (HK.01709) also joined the rally
The surge reflects growing investor optimism ahead of August 1, when Hong Kong’s Stablecoin Ordinance officially goes live, ushering in a new licensing regime for stablecoin issuers and service providers. This countdown is expected to further boost crypto-linked equities, as Hong Kong positions itself as a regional Web3 and digital asset hub.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Ripple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO
Ethereum price started a fresh increase above the $3,750 zone. ETH is now showing bullish signs and might continue to rise toward the $3,950 zone. Ethereum started a fresh increase above the $3,750
Samsung to Manufacture Tesla’s AI6 Chips in $16.5B Deal, Musk ConfirmsTesla CEO Elon Musk announced on Monday that the company has signed a $16.5 billion chip supply deal with Samsung Electronics, a move that could revitalize Samsung’s struggling contract chip manufacturing business. The agreement designates Samsung to produce Tesla’s upcoming AI6 chips, which are expected to power future versions of the automaker’s autonomous driving technology.
Tesla CEO Elon Musk announced on Monday that the company has signed a $16.5 billion chip supply deal with Samsung Electronics, a move that could revitalize Samsung’s struggling contract chip manufacturing business. The agreement designates Samsung to produce Tesla’s upcoming AI6 chips, which are expected to power future versions of the automaker’s autonomous driving technology.
Bitcoin Climbs to $119.5K on Trade Optimism, Eyes on Fed and Crypto Policy UpdateBitcoin edged higher on Monday, reaching above $119,000 after rebounding from recent lows. The gains were fueled by improved market sentiment following the announcement of a new U.S.–EU trade agreement, which helped boost risk appetite across financial markets.
Bitcoin edged higher on Monday, reaching above $119,000 after rebounding from recent lows. The gains were fueled by improved market sentiment following the announcement of a new U.S.–EU trade agreement, which helped boost risk appetite across financial markets.
Gold prices steadied during Monday’s Asian trading session after slipping for three straight days. The recent U.S.-European Union trade agreement improved investor sentiment, diminishing the appeal of gold as a safe-haven asset.
