BRIGHT SMART and YUNFENG FIN Drop 4-5% as Ant Group and JD Allegedly Halt HK Stablecoin Initiatives
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 20 2025
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Source: aastocks
Market Performance: The HSI surged by 637 points (2.5%) to 25,884 at the open, later stabilizing at 25,744 with a turnover of HKD62.23 billion, driven by strong performances from major tech stocks like JD-SW and BABA-W.
Stablecoin Regulatory Concerns: Chinese tech giants, including Ant Group and JD-SW, have halted plans to issue stablecoins in Hong Kong due to regulatory concerns from China regarding private sector-controlled stablecoins, impacting related stocks negatively.
Analyst Views on 00376
Wall Street analysts forecast 00376 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 00376 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 3.610
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Current: 3.610
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
