HK Stock Market Move | YUNFENG FIN (00376) rises by over 12%, doubling its stock price within the month. Yunfeng Securities recently approved to provide virtual asset trading services.

YUNFENG FIN (00376) rose by over 12% again, with the stock price doubling within the month. As of the time of writing, it has risen by 10.77%, to 6.79 Hong Kong dollars, with a trading volume of 217 million Hong Kong dollars. On the news front, on September 9, YUNFENG FIN announced that its wholly-owned subsidiary YF Securities Limited obtained approval from the Securities and Futures Commission of Hong Kong on September 8 to upgrade its existing Type 1 (Securities Trading) regulated activities license. After this upgrade, YF Securities will be able to provide virtual asset trading services for retail and professional investors, with clients able to trade digital assets directly on YUNFENG FIN's trading platform. It is worth noting that in early September, YUNFENG FIN announced a strategic partnership with Ant Group's Ant Digital Technology, and the two parties will jointly explore tokenization of real world assets (RWA) and other cutting-edge areas such as Web3 through the new generation Layer1 public chain Pharos platform. In addition, the company announced that the board of directors has approved the purchase of ETH on the open market as a reserve asset for the company. The group has accumulated 10,000 ETH with a total investment amount of 44 million US dollars, all funded from the group's internal cash reserves.