Stablecoin Concept Stocks Surge Again, Leading Gains in A-Shares and Hong Kong Markets
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Hong Kong's push for digital asset development has led to a rally in stablecoin-related stocks. Remarks from Financial Secretary Paul Chan on June 16 regarding digital asset regulation spurred gains in A-shares and Hong Kong stocks. Notable increases included Sifang Jingchuang and Tianyang Technology, both up around 20%. The Stablecoin Ordinance will take effect on August 1, with the HKMA speeding up license applications. U.S. stablecoin stocks also saw volatility, with Circle rising over 25%.
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