AGTECH HOLDINGS (08279) surged more than 30% again, with its stock price having doubled since the holiday period. At the time of writing, the stock was up 27.63% to HK$0.485, with a turnover of HK$30.73 million.

The rally is driven by news that the Hong Kong Special Administrative Region government is vigorously promoting the city's development as an international gold trading center. Joseph Chan, Under Secretary for Financial Services and the Treasury, stated at the Hong Kong Gold Exchange's Lunar New Year Gold Market Opening Ceremony that the government aims to further diversify Hong Kong's international financial business. Chan announced a target to expand gold storage capacity in Hong Kong to exceed 2,000 tonnes within three years, positioning the city as a regional gold reserve hub.

Regarding the promotion of commodity trading, there are currently 15 London Metal Exchange-approved warehouses operating in Hong Kong. The Hong Kong Exchanges and Clearing Limited will also deepen connectivity developments with the Guangzhou Futures Exchange and other mainland commodity markets.

Notably, AGTECH HOLDINGS announced that its subsidiary TGX has entered into a technical services agreement with Hong Kong Gold Exchange Limited. Under this agreement, TGX is required to design, develop, operate, and maintain a secure and stable electronic trading, clearing, and settlement platform, along with related service platforms (core platform) for the Hong Kong Gold Exchange, its users, and other clients. TGX will also provide relevant technical consultation, system support, and innovation services.