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Hang Seng, China Stocks Soar as Beijing Pledges Support Amid Equity Rout
Crypto remains stable, though liquidity thin, as markets in Hong Kong climb out from the worst slump since the 2008 recession.
Ni Sam Reynolds
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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.
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- Xinhua reported (Chinese language) that the Financial Stability and Development Committee of the State Council pledged to keep the market stable and support overseas share listings.
- U.S. financial regulators and their Chinese counterparts are currently engaged 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.
- Tencent was up nearly 20% and Alibaba hit 19% on the news.
- 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.
- Bitcoin’s price remains relatively unaffected on the news.
- 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.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
Ano ang dapat malaman:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
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