Photographer: Akos Stiller/Bloomberg

China’s blockchain stocks are missing out on the cryptocurrency mania that has pushed their global peers to record highs.

A Bloomberg-curated basket of seven key Chinese A-share stocks with ties to the blockchain technology underpinning cryptocurrencies — including Shenzhen Forms Syntron Information Co., Shenzhen Ysstech Info-Tech Co. and Brilliance Technology Co. — has fallen about 16% so far this year, according to data compiled by Bloomberg. That compares with a 36% rise in an Elwood Asset Management index tracking global blockchain-linked shares.

China crypto-linked stocks hae slumped amid global industry rally

“Not every company will stand out in the blockchain sector,” said Reo Liao, a market analyst with IG Australia. “The recent surge in Bitcoin price may suggest that digital currency and digital-asset trading platform concepts will be the ones that attract all investors. That’s why we see all related stocks climb these days.”

(Excerpt) Read more Here | 2021-02-15 16:00:00
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