HK-listed Huobi Tech falls most among crypto-linked stocks on China crackdown

Bitfire group

27/09/2021 06:50

** Huobi Technology Holdings  1611.HK  leads plunge in
cryptocurrency-linked stocks, dropping as much as 33% to
HK$6.70, its biggest daily decline since listing in November
2016
    ** Stock of the crypto asset manager and trading firm, which
is also an affiliate of cryptocurrency exchange Huobi Global,
hit the lowest since Jan. 4; biggest decliner on the Hong Kong
bourse
    ** China's regulators intensified a crackdown on Friday,
banning cryptocurrency transactions and mining, and saying that
overseas exchanges are barred from providing services to
mainland investors via the internet  urn:newsml:reuters.com:*:nB9N2Q200C
    ** Chinese cryptocurrency exchange Huobi Global said on
Sunday it had stopped taking new mainland customers from Friday
and would end contracts with mainland clients by the end of the
year to comply with local regulations  urn:newsml:reuters.com:*:nL4N2QS04D
    ** Fintech group OKG Technology  1499.HK , which majority
owned by Xu Mingxing the founder of cryptoexchange OK Coin,
drops 22.9% to HK$0.243, the lowest since Jan. 22
    ** QITIAN Tech  300061.SZ  falls 6.9%, BC Technology Group
 0863.HK  dlips 4.1%, and cryptocurrency investor Meitu Inc
 1357.HK  decline 5.5%
    ** The Hang Seng sub-index tracking information technology
firms  .HSCIIT  slips 0.4%, and Hang Seng Tech Index  .HSTECH 
eases 0.7%
    ** The Hang Seng China Enterprises Index  .HSCE  edges up
0.02%, and the benchmark index  .HSI  gains 0.3%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))