BlockBeats News, October 14th, Ant Group has made significant progress in the acquisition of Hong Kong local brokerage firm and stablecoin concept stock Yao Capital Securities. According to Caixin’s report, on October 13th, Ant Group’s tender offer to acquire 50.55% of Yao Capital Securities’ shares, after more than half a year of review, finally obtained approval from the Hong Kong Securities and Futures Commission, but still awaits the final approval of the National Development and Reform Commission. In response to this news, Yao Capital Securities’ stock price surged by 34.52% yesterday.
As early as April this year, Ant Group announced the acquisition of Yao Capital Securities, and the market widely speculated that its acquisition intention was to compete for a virtual asset trading platform license. Yao Capital Securities, as a well-established Hong Kong brokerage firm, holds multiple trading licenses in Hong Kong, covering various areas such as Hong Kong stocks, U.S. stocks, Shanghai-Shenzhen Stock Connect, margin financing, and futures. Especially during the stablecoin craze in Hong Kong in July and August this year, Yao Capital Securities, as a popular stablecoin concept stock, attracted significant market attention.
However, despite yesterday’s sharp rise in Yao Capital Securities’ stock price, today its stock price has experienced a roughly 10% decline, reminding investors that market fluctuations still exist with high uncertainty. BiyaPay analysts pointed out that the recent volatility in the virtual asset and blockchain industry is significant, and investors should pay attention to the impact of factors such as policy regulations and market sentiment on stock prices and operate cautiously.
As a platform supporting zero-fee trading of digital currencies, BiyaPay advises investors to remain rational when facing highly volatile assets, utilize BiyaPay to invest in USDT-supported U.S. stocks, Hong Kong stocks, and futures markets for risk hedging and diversified asset allocation, in order to reduce the risk brought by single-market volatility.
