Hong Kong Stock: Stablecoin Concept Stocks Soar Together, Huaxing Capital Holdings Surges Over 16% at One Point

BlockBeats News, June 9th. Concept stocks related to Hong Kong's stablecoin saw a collective surge at the beginning of trading. Huaxing Capital Holdings rose over 16%, Lian Yirong Technology rose over 9%, Linklogis rose nearly 5%, and China Everbright Holdings rose nearly 4%.

On June 6th, the Hong Kong SAR Government published in the Gazette the "Stablecoin Ordinance (Commencement) Notice," specifying August 1, 2025, as the commencement date of the "Stablecoin Ordinance" (Chapter 656). On June 7th, Hong Kong's Financial Secretary and Treasury Secretary Paul Chan stated in a radio program that the stablecoin is backed by fiat currency and can later take the form of electronic assets. It can be used for payment functions through technologies such as blockchain.