HK Stock Market Move | AGTECH HOLDINGS (08279) fell nearly 30% in the final hour of trading, halving from its year-to-date high. The total market value fell below 6 billion Hong Kong dollars.

AGTECH HOLDINGS (08279) dropped by nearly 30% at the close of trading, almost halving from its year-high of 0.95 Hong Kong dollars and its total market value falling below 6 billion Hong Kong dollars. As of the time of writing, it fell by 28.26%, closing at 0.495 Hong Kong dollars with a trading volume of 50.302 million Hong Kong dollars. On the news front, Alibaba's subsidiary, Aibaba Technology, had previously entered into a strategic partnership with the Hong Kong Exchange to jointly create a digital gold trading platform. Soochow had previously pointed out that Aibaba Technology leverages the technology and traffic advantages of the Alibaba ecosystem to help the Hong Kong Exchange improve its digital trading infrastructure, potentially driving the scale development of digital gold trading and bringing stable technology service income to itself, while also increasing the profit elasticity of Alibaba's businesses in Hong Kong.