China’s Blockchain Stocks Are Avoiding Worst of Bitcoin Carnage
- Grouping of China crypto stocks down less than global peers
- These equities much less sensitive to swings in digital tokens
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China’s blockchain-linked stocks are a rare quantity: a corner of the cryptocurrency market that’s relatively unscathed amid the rout in digital tokens.
A Bloomberg-curated basket of eight Chinese A-share equities with ties to the blockchain technology behind cryptocurrencies -- such as Shenzhen Forms Syntron Information Co., Ygsoft Inc. and Brilliance Technology Co. -- is down less than 2% as of 2 p.m. in Singapore on Thursday. That compares with a more than 5% average plunge for a basket of 24 global crypto stocks outside China.