Hong Kong Stock Concept Stock Collective Surge, Fosun International Surges Over 19%

By: theblockbeats.news|2025/08/12 15:42:08

BlockBeats News, August 12th, according to RockFlow market data, the Hong Kong stock stablecoin concept stocks collectively surged, with Fosun International (00656.HK) rising over 19%, Duodian Technology (02586.HK), Guotai Junan International (01788.HK) rising over 8%, Yunfeng Financial Group (00376.HK) rising over 5%, and YeePay (09923.HK) rising over 4%.

Earlier reports stated that at 2 p.m. on August 12th, Fosun had officially applied for a stablecoin license in Hong Kong and had already assembled a complete stablecoin license application team. On August 6th, Fosun's founder Guo Guangchang personally led the core team of Fosun's stablecoin team and some other senior executives to separately meet with Carrie Lam, the Chief Executive of the Hong Kong Special Administrative Region, and Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region, within one day.

Research has found that an exogenous increase in net inflows of stablecoins significantly widens the price deviation between stablecoins and traditional foreign exchange, leads to depreciation of the local currency, and worsens the financing conditions for synthetic dollars (i.e., increases the doll...

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