HK Stock Market Move | GUOTAI JUNAN I (01788) rose more than 5% after announcing that it has obtained a virtual asset license. Institutional investors are optimistic about the opening up of incremental market space.

GUOTAI JUNAN I (01788) rose by more than 5%, up 5.78% to HK$3.66 at the time of release, with a transaction value of HK$9.11 billion. On the news front, on June 24th, GUOTAI JUNAN I officially received approval from the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to provide virtual asset trading services, as well as to provide advice on virtual asset trading. After this license upgrade, clients will be able to directly trade cryptocurrencies such as Bitcoin, Ethereum, and stablecoins like Tether (USDT) on the GUOTAI JUNAN I platform. Zhonghang Securities believes that this license upgrade marks the first deep involvement of Chinese institutions in the Hong Kong virtual asset market and has a benchmark significance. It not only expands the business scope but also represents a strategic breakthrough for Chinese financial institutions in the field of cross-border digital assets, opening up trillion-level incremental market space for the company. As a subsidiary of Guotai Junan Overseas, backed by a state-owned financial group, the company has natural advantages in compliance risk control and customer resources, and is expected to prioritize meeting the cross-border encrypted asset allocation needs of mainland high-net-worth clients and institutions.