Stock Track | GUOTAI JUNAN I Soars 38.84% Intraday on Anticipation of Hong Kong Stablecoin Licenses

Stock Track04-10

GUOTAI JUNAN International's stock price surged 38.84% during intraday trading on Friday, reflecting a significant upward movement.

The sharp rise appears to be driven by market anticipation surrounding the Hong Kong Monetary Authority's planned announcement of the first batch of stablecoin licenses. Reports indicate the announcement is scheduled for later in the afternoon, with only 2 to 3 licenses expected to be granted initially from a pool of 36 applications, highlighting a stringent regulatory approach.

This development has spurred buying interest in stocks associated with the stablecoin sector in Hong Kong, with GUOTAI JUNAN International being a notable beneficiary of the positive sentiment.

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