Yunfeng Financial Group, backed by Jack Ma, surged in afternoon trading on Oct. 9, according to Bitget market data. The stock, listed as 00376.HK, rose more than 39% and moved above HK$2.4. The move was tied to strength in the securities and internet finance sectors, with the report also citing the company’s license structure reorganization and growth in insurance profit as supporting factors. On the same day, a Hong Kong-listed securities ETF gained more than 2%, while internet finance names also moved higher. The report was published by BlockBeats as a market update.
Yunfeng Financial Group, backed by Jack Ma, rose sharply in afternoon trading on Oct. 9, according to Bitget market data cited by BlockBeats. The stock, listed as 00376.HK, was up more than 39% and climbed above HK$2.4.
The report said the short-term rally was mainly driven by gains in the securities and internet finance sectors. It also pointed to the company’s own license structure reorganization and growth in insurance profit.
On the day, a Hong Kong securities ETF was up more than 2%, and internet finance stocks also traded higher.
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