HK Stock Market Move | Bitcoin concept leads the rise, Bitcoin price surged 40% after Trump's election, Hong Kong previously disclosed progress in license issuance.

The concept of Bitcoin has seen a significant increase, as of the time of writing, MEITU (01357) has risen by 7.74%, to HK$3.2; OKG TECH (01499) has risen by 5.45%, to HK$0.213; SINOHOPE TECH (01611) has risen by 2.75%, to HK$2.24; OSL GROUP (00863) has risen by 2.66%, to HK$7.32; and BOYAA (00434) has risen by 1.75%, to HK$3.49. On the news front, Bitcoin reached a new all-time high on Tuesday, soaring to $93,625 at one point, representing a cumulative increase of approximately 40% since Trump won the election. China Securities Co., Ltd. noted that Bitcoin has risen by over 100% this year. Recently, digital assets have been gaining support from the incoming US President Trump, and market expectations of continued interest rate cuts by the Federal Reserve have propelled Bitcoin to new highs. It is worth noting that according to news from the Hong Kong Securities and Futures Commission, on October 28th, the Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, Ye Zhiheng, stated that virtual assets have become an important agenda for the SFC and major financial regulatory agencies in Hong Kong. There is a significant volume of virtual asset trading in the market, and compared to 2023, the volume of virtual asset trading in Hong Kong has recorded the largest year-on-year increase in 2024. Ye Zhiheng stated that there are currently three licensed virtual asset trading platforms in Hong Kong, and the SFC is expected to issue licenses to several "applicants deemed fit" by the end of the year, allowing them to commence operations soon after.