01611 Overview

Regulatory Notice Issued: The People's Bank of China and several other regulatory bodies issued a notice prohibiting the issuance of RMB-pegged stablecoins overseas without prior approval, aiming to mitigate risks associated with virtual currencies.

Market Response: Following the regulatory announcement, Hong Kong-listed stablecoin and cryptocurrency-related stocks experienced significant gains, with multiple companies reporting notable increases in their stock prices and trading volumes.

Trump's Fed Chairman Recommendation: President Donald Trump has recommended Kevin Warsh as the new Fed Chairman, with the appointment expected to take effect in mid-May, as the market closely monitors interest rate trends.

Bitcoin's Decline: Bitcoin has fallen below USD76,000, marking a 40% drop from its peak last year, with a recent 1% decrease bringing it to USD77,714, while Ethereum also experienced a 5.6% decline.

Monthly Decline for Bitcoin: January saw Bitcoin drop over 10%, resulting in its fourth consecutive monthly decline, the longest losing streak since 2018.

Subdued Hong Kong Crypto Stocks: Hong Kong's crypto-related stocks have shown weakness, with several companies experiencing significant declines and notable short selling activity.

Bitcoin and Ethereum Price Surge: Bitcoin reached a two-month high with a 4.39% increase, now priced at USD 95,419, while Ethereum rose 7.11% to USD 3,340.

Market Recovery: Despite a 6% decline last year, Bitcoin has shown strong momentum in January, indicating a potential recovery in the cryptocurrency market.

Hong Kong Bitcoin Stocks Performance: Several Bitcoin-related stocks in Hong Kong saw significant gains, with BOYAA up 10.81%, LINEKONG up 11.25%, GRANDSHORES up 9.33%, and SINOHOPE TECH up 11.15%.

Short Selling Activity: The short selling data for these stocks indicates varying levels of investor sentiment, with BOYAA and SINOHOPE TECH experiencing notable short selling ratios.

Cryptocurrency Market Decline: The total cryptocurrency market cap has fallen below USD 4 trillion after a significant drop from last week's historic high.

Bitcoin and Ether Prices: Bitcoin decreased by 2.16% to USD 115,532, while Ether saw a larger decline of 3.77%, dropping to USD 4,305.

Hong Kong Cryptocurrency Stocks: Despite a market rally, cryptocurrency-related stocks in Hong Kong experienced declines, with notable drops in companies like BOYAA and LINEKONG.

ETFs Performance: Several cryptocurrency ETFs also reported losses, with CAM ETH and BOS HSK ETH falling by 8.476% and 9.444% respectively, indicating a broader downturn in the crypto investment landscape.

Hong Kong Stock Market Performance: The HSI opened 152 points higher, closing at 25,716 with a turnover of $103.902 billion, while several cryptocurrency-related stocks saw significant gains due to Bitcoin reaching a new high above US$124,000.

Cryptocurrency Stocks Surge: Notable increases were observed in Hong Kong-listed cryptocurrency concept stocks, such as SINOHOPE TECH (+16.92%) and OKG TECH (+8.62%), alongside positive movements in Bitcoin-related ETFs.

Ethereum and Bitcoin Performance: Ethereum rose 1.57% to USD4,314.8, its highest since late 2021, while Bitcoin surged 3.22% to USD121,069.03, driven by a weaker U.S. dollar and increased institutional interest.

Hong Kong Crypto Stocks Rally: Crypto-related stocks in Hong Kong saw significant gains, with IVD MEDICAL reaching a record high and other companies like OKG TECH and SINOHOPE TECH also experiencing notable increases in their stock prices.