HK Stock Market Move | OSL GROUP (00863) fell by more than 5%. DBS said that the weakening of Bitcoin in the fourth quarter could drag down the company's trading volume and revenue.

OSL GROUP (00863) fell more than 5%, dropping 4.53% to HK$17.48 as of the post, with a turnover of HK$159.318 million. On the news front, after US President Trump announced plans to impose new tariffs on eight European countries, the demand for safe-haven assets increased, causing pressure on risk assets in general, and the cryptocurrency market suffered a severe setback. On the evening of January 19, the cryptocurrency market collectively fell, with the price of Bitcoin falling by more than 3% at one point, dropping below $92,000. This also interrupted the rebound trend of cryptocurrencies since the beginning of the year. DBS released a research report stating that OSL GROUP, as a cryptocurrency exchange, its revenue and stock price performance are related to the price of Bitcoin, which fell by 24% in the fourth quarter. The bank expects this to have a negative impact on OSL's trading volume and revenue. Therefore, the bank has lowered its full-year revenue forecast for OSL GROUP to around HK$560 million. However, the bank remains optimistic about the growth of OSL GROUP in 2026, as the integration of its acquisition project Banxa is slightly ahead of schedule, estimated to contribute approximately HK$110 million in revenue in 2026. At the same time, the company's payment business continues to benefit from the launch of new trading products by CKH HOLDINGS.