Hong Kong Stocks Move Lower | Cryptocurrency Concept Stocks Lead Declines as GUOTAI JUNAN I (01788) Falls Over 5% Amid Reports of China CSRC Halting RWA Tokenization Pilot
Stock News
Sep 23
Cryptocurrency concept stocks led the decline in Hong Kong trading. As of press time, OKG TECH (01499) fell 5.13% to HK$0.37; GUOTAI JUNAN I (01788) dropped 4.51% to HK$4.87; and OSL GROUP (00863) declined 4.45% to HK$15.25.
On the news front, media reports indicate that China's Securities Regulatory Commission has recently made informal requests for certain brokers to suspend real-world asset (RWA) tokenization business in Hong Kong to strengthen risk management and ensure issuances have genuine backing.
Hong Kong is actively building itself as a digital asset hub, while China has banned cryptocurrency trading and mining since 2021, and last month requested major brokers to halt stablecoin research publications.
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