HK Stock Market Move | New Fire Technology (01611) surges over 11% again, Fu Peng joins New Fire as Chief Economist, traditional finance and digital assets may accelerate integration.

Xinhuo Technology (01611) rose by 17% yesterday, and rose by over 11% in early trading today, with a cumulative increase of over 40% this month. As of the time of writing, it is up by 6.5% at 2.95 Hong Kong dollars, with a turnover of 131.19 million Hong Kong dollars. On the news front, well-known economist Fu Peng has joined BITFIRE GROUP as the chief economist. After joining BITFIRE GROUP, Fu Peng will provide his experience support for macroeconomic research and institutional-level investment strategy system construction for BITFIRE GROUP. Analysts point out that Fu Peng's move from traditional securities brokers to digital asset platforms may also reflect the trend of accelerating integration between traditional finance and digital assets. According to the company's official website, BITFIRE GROUP is a leading compliant digital financial services group in Asia, with its subsidiaries holding licenses issued by the Securities and Futures Commission of Hong Kong for Type 1 (securities trading), Type 4 (advising on securities), Type 9 (asset management), and TCSP trust license. It is the first licensed institution in Hong Kong to provide full-service custody account management services for virtual assets.