Hong Kong crypto stocks surge even as local markets tank, OKX to invest in L1s, Philippines central bank hates retail CBDCs. Asia Express
Our weekly roundup of news from East Asia curates the industrys most important developments.
Hong Kong crypto stocks have surged as part of the broader market recovery. Two notable entities, licensed crypto exchange OSL and crypto custodian Sinohope Technology, have seen weekly gains of 46% and 36% respectively.
The performance is all the more noteworthy given the Hong Kong and Chinese stock markets are in an ongoing bear market. The city-state’s Hang Seng Index has fallen 24% over the past year and currently trading at 2009-lows.OSL and Sinohope’s market caps currently stand at $650 million and $140 million, respectively.
