BRIGHT SMART (01428) saw its shares plummet by 9.08% during the intraday session on Monday, following a broader decline in HK-listed stablecoin concept stocks.
The sharp drop came after the People's Bank of China (PBOC) raised concerns about stablecoins, impacting investor sentiment towards companies associated with the stablecoin sector. Bright Smart, along with peers like Yunfeng Financial and Guotai Junan, experienced significant selling pressure as market participants reacted to the regulatory warning.
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