Asian crypto stocks surge amid Trump-fueled rally
Quick Take Hong Kong’s OKG Tech saw its stock jump 42.6% at Monday’s close. Japan’s Metaplanet closed up 21.15%. The broader stock markets in Asia experienced mixed performances today.
Cryptocurrency-related stocks in Asia saw significant gains on Monday amid a broader crypto market rally fueled by U.S. President Donald Trump's Sunday social media posts about establishing crypto reserves.
Shares of Japan's Metaplanet closed up 21.15% on Monday, surging to 4,010 yen from the previous close of 3,310 yen within the first hour of trading upon opening. The company also announced on Monday that it acquired an additional 156 BTC ($13.4 million) to expand its total holdings to 2,391 BTC.
Hong Kong-based crypto firm OKG Tech saw its stock jump 42.6% today, closing at HK$0.184.
Boyaa Interactive, a Chinese game developer and Asia's largest public corporate holder of bitcoin, saw its Hong Kong-listed shares rise 23% to close at HK$4.17 on Monday. Boyaa announced on Sunday that it bought an additional 100 BTC for $7.95 million, boosting its total holdings to 3,350 BTC.
Japan’s benchmark Nikkei 225 added 1.7% on Monday, while South Korea’s Kospi fell 3.39%. Hong Kong’s Hang Seng index remained nearly flat, edging up 0.29%. The Shanghai Composite index inched down 0.12% today.
The surge in Asian crypto stocks coincided with a broader crypto market rally that extended from Sunday, following Trump's social media posts announcing the possible inclusion of SOL, XRP and ADA in the U.S. crypto reserve alongside bitcoin and ether.
Bitcoin traded up 6.9% over the past 24 hours at $92,326 at the time of writing, after surging beyond the $94,000 level at one stage earlier today, according to The Block's Bitcoin price page .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Stock Market Preview: All Three Major Index Futures Fall, Brent Oil Surges Past $100, Besant to Announce US Treasury Repo Scale, Apple Event Incoming
On Wednesday, September 9th, before the U.S. stock market opened, futures for the three major U.S. stock indexes all declined.
The ultimate bottleneck for AI is not just electricity, but also the electricity bill! As data centers become a focus in the US elections, AI infrastructure investment faces a "ballot stress test"
In 2026, data center spending, as the backbone of the artificial intelligence industry, will reach a record high. However, alongside the boom in infrastructure construction, opposition to data centers has risen sharply this year. What started as a localized issue has quickly evolved into a key topic for the November midterm elections.
Eurozone Bond Yields Rise as Brent Touches $100; 10-Year Bund Yield Hits 15-Year High -- Update
From AI to gold and U.S. Treasury bonds: almost everything is surging to new highs, the market welcomes “Everything High”
AI capital expenditure and corporate earnings expectations continue to rise, while energy, gold, US Treasury yields, and market positions are also climbing. On the surface, this suggests a comprehensive increase in growth and risk appetite; however, when inflation, interest rates, and crowded trades are all at high levels, the market's tolerance for the sustainability of the AI boom is also narrowing.
Crypto prices
More
