Boyaa Interactive International Ltd (00434.HK) saw its stock price plummet by 10.21% during the intraday trading session, as a broader sell-off hit Hong Kong-listed cryptocurrency-related stocks. The sharp decline came in response to Bitcoin's price falling to $90,000, triggering a wave of negative sentiment across the crypto sector.
The Hong Kong stock market witnessed a significant downturn in crypto-related stocks during morning trading. While Boyaa experienced the most severe drop, other notable declines included OKG Technology Holdings Ltd, Sinohope Technology Group Ltd, and Linekong Interactive Group Co Ltd, all of which saw their share prices fall by approximately 5%. OSL Group Ltd and Grandshores Technology Group Ltd also felt the impact, with their stocks declining by 2% and 1% respectively.
This market reaction highlights the close correlation between traditional stock performance and cryptocurrency price movements, particularly for companies with exposure to the digital asset space. As Bitcoin and other cryptocurrencies continue to experience volatility, investors can expect to see ripple effects in the stock prices of crypto-related companies listed on global exchanges.
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