The recent receipt of a license by Hong Kong-based brokerage company Guotai Junan International to operate with virtual assets has become one of the reasons for the growing interest in such schemes. After the news of the issuance of the permit, Guotai shares soared almost threefold and immediately took the leading position on the Hong Kong Stock Exchange in terms of transaction volume, leaving behind even the giant Alibaba (NYSE:BABA).
This surge in activity shows that Chinese investors are not losing interest in the digital asset market, despite official restrictions within the country. An additional impetus was given by the announcement by Shanghai-based TF Securities that their subsidiary TF International was also able to obtain a similar license in Hong Kong. As a result, TF shares added 29% in just a week.
Interestingly, the beneficiaries of this trend include those players who are not directly connected to the crypto market. Financial platform Eastmoney, which specializes in brokerage services and data provision, noted a record trading volume in mainland China, which led to an 11% increase in its quotes.
Experts note that such excitement is largely due to the desire of investors to join new trends in time and earn money by entering early. This is the opinion of Beijing financial blogger Li Dongfang, who emphasizes that other large brokers may follow in the footsteps of Guotai and TF, having received permits for operations with crypto assets in Hong Kong. However, in his opinion, such a sharp jump in quotes may not happen for subsequent companies.
Thus, Hong Kong is gradually turning into a window for mainland investors who want to maintain access to cryptocurrencies under strict restrictions in Beijing. At the same time, the local stock market receives a noticeable influx of capital, which stimulates activity among those companies that are only indirectly connected with virtual assets.
Experts do not rule out that if the flow of those wishing to bypass the bans continues to grow, Hong Kong regulators may tighten requirements or introduce additional control measures. In the meantime, investors are closely monitoring the news and trying to extract maximum benefit from the window of opportunity that has opened.