Digital currency concept stocks surge, Sifang Jingchuang hits 20cm daily limit

Price ActionDigital Finance
โดย 中国基金报·CN·Read original
Summary · why it matters

On September 4, the three major A-share indices opened higher across the board, with the ChiNext index rising more than 1%, and sectors such as digital currency, semiconductor chips, and CPO leading gains. Digital currency concept stocks were active, with Sifang Jingchuang hitting the 20cm daily limit, and multiple stocks including Hengbao, Cuiwei, and Chutianlong also hitting their daily limits. In terms of news, Federal Reserve Governor Waller said that if inflation continues to slow, he would lean toward supporting the Fed keeping rates unchanged, prompting traders to lower their bets on Fed rate hikes from 63% yesterday to 60%. Affected by this, cryptocurrencies rose across the board, and overnight US digital currency concept stocks surged, with Strategy up more than 17%, Circle up more than 16%, and Coinbase up more than 10%.

Impact on stocks 7

Digital Finance & Tokenization · 3 stocks
Coinbase Global Inc
COIN
▲ PositiveMonetaryrelevance

Coinbase rose over 10% as traders lowered Fed rate-hike bets after Waller's dovish remarks, lifting crypto-linked stocks.

Circle Internet Group, Inc.
CRCL
▲ PositiveMonetaryrelevance

Circle surged over 16% overnight as reduced Fed rate-hike odds boosted cryptocurrencies and digital-currency concept stocks.

MicroStrategy Incorporated
MSTR
▲ PositiveMonetaryrelevance

Strategy (MicroStrategy) jumped more than 17% as dovish Fed comments drove crypto prices and related equities higher.

Others · 4 stocks
Chutian Dragon Co Ltd
003040
▲ Positiverelevance

Chutianlong hit its daily limit as part of the digital currency concept stock rally, with no company-specific development cited.

Hengbao Co Ltd
002104
▲ PositiveMonetaryrelevance

Hengbao hit its daily limit amid the digital currency concept surge tied to the Fed's dovish rate stance.

Beijing Cuiwei Tower Co Ltd
603123
▲ PositiveMonetaryrelevance

Beijing Cuiwei Tower hit its daily limit as part of the digital currency concept rally sparked by lower Fed rate-hike expectations.