HK Stock Market Move | AGTECH HOLDINGS (08279) has risen over 10% again, with an accumulated increase of more than five times this year. Hong Kong is actively developing an international gold trading center.

AGTECH HOLDINGS (08279) has risen over 10% again, with a cumulative increase of more than 500% this year. As of the time of writing, it has risen by 10.91%, trading at HK$1.22, with a turnover of HK$48.1458 million. In news, on July 29, Hong Kong's gold imports surged to the highest level since the end of 2014. According to data from Hong Kong Customs, gold inflow soared to over 130 tons. This surge in imports is partly in preparation for the gold clearing system and is also due to strong demand from mainland China. HSBC's Liao Yijian recently reiterated that the group plans to increase its gold storage capacity in Hong Kong to 200 tons, to support the government's proposed goal of 2,000 tons of gold storage capacity. It is worth noting that on July 7, Hong Kong's central gold clearing and settlement system officially began trial operation. TGX, a subsidiary of AGTECH, has formed a joint venture with the Hong Kong Precious Metals Exchange to promote the construction of a core platform for electronic trading, clearing, and settlement of precious metals, with plans to migrate existing business operations to this platform.