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BUZZ-HK-listed GCL hits 7-month peak on strategic cooperation with CPIC

Reuters
Jul 18
BUZZ-HK-listed GCL hits 7-month peak on strategic cooperation with CPIC

** Shares of GCL Technology 3800.HK jump as much as 14.5% to HK$1.42, their highest since December 4, 2024

** Stock on track for the biggest one-day pct gain since October 25, 2024

** GCL proposes to establish a strategic partnership with asset management group CPIC Investment Management to explore and develop solutions for the tokenization of real-world assets $(RWA.UK)$ and the exploitation of stablecoin practical utilization, among others

** Both parties intend to jointly research and develop an “RWA middle-office” to facilitate the tokenization of GCL assets and further strengthen the company's market competitiveness in the integration of new energy and digital finance

** Hang Seng Tech Index .HSTECH rises 1.6%, Hang Seng Index .HSI climbs 1.2%

** YTD, GCL stock up 19.4%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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