Hong Kong’s stock market posted double-digit gains in Wednesday afternoon trading, while crypto remained stable after China's State Council pledged support for the stock market. thesamreynolds reports.
Hong Kong’s stock market posted double-digit gains during the Wednesday afternoon trading session after China's State Council pledged support of the stock market.
that the Financial Stability and Development Committee of the State Council pledged to keep the market stable and support overseas share listings.in a dispute over the availability of Chinese company audits to U.S. officials. The U.S. has threatened to delist Chinese ADRs should these audits not be provided.The broader Hang Seng index is up 9%, while the specific China tech index in Hong Kong is up 12%.
According to state media reports, regulation of China’s tech sector will soon normalize. The government also said they would handle some of the risks for property developers.The price of the world’s largest digital asset briefly touched $41,000 late morning Asia time, but was trading around $39,450, up 2.82%, at time of writing.
Traders report that liquidity is now extremely thin in crypto, hampering dynamic market moves, as the market awaits the Fed Minutes.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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