HK Stock Market Move | AGTECH HOLDINGS (08279) surged another 23% in the morning session, partnering with the Hong Kong Gold and Silver Exchange to promote a comprehensive upgrade of Hong Kong's precious metals trading, clearing, and settlement system.

AGTECH HOLDINGS (08279) rose by 23% in the early session, with a cumulative increase of over 120% this month and more than 700% for the year. As of the time of writing, it was up 14.44%, trading at HKD 1.545, with a transaction volume of HKD 124 million. On the news front, on July 7, Hong Kong's Central Clearing and Settlement System for Gold officially began trial operations, completing the first batch of gold deposits and transaction settlements. Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, previously stated that the goal of building an international gold market in Hong Kong is very clear: to enhance the country's voice and influence in the global precious metals market through cooperation with the Shanghai Gold Exchange; and to strive to increase Hong Kong's gold storage capacity to over 2,000 tons in the next three years. It is noteworthy that in June of this year, AGTECH submitted an application for a transfer to the main board of the Hong Kong Stock Exchange. On July 23, AGTECH announced that its subsidiary TGX has officially reached a cooperation agreement with the Hong Kong Gold Exchange. The two parties will jointly establish a joint venture to further deepen their strategic cooperation in the field of digital infrastructure for precious metals trading, jointly promoting a comprehensive upgrade of Hong Kong's precious metals trading, clearing, and settlement system.