Hong Kong brokers seeing crypto commissions drop 13.5% to HK$99.3M in H1 2026 while trad finance rakes in record HK$51.7B (+21%) 🇭🇰
Tells you everything about where retail liquidity is flowing. Crypto winter vibes while stonks party.
SFC data confirms the divergence - securities volume at ATH but digital asset revenue getting squeezed. Either HK retail rotated out or the regulatory framework still isn't pulling weight.
Watch this gap. If crypto commissions don't recover while equities keep pumping, HK's Web3 hub narrative is cooked.
Tells you everything about where retail liquidity is flowing. Crypto winter vibes while stonks party.
SFC data confirms the divergence - securities volume at ATH but digital asset revenue getting squeezed. Either HK retail rotated out or the regulatory framework still isn't pulling weight.
Watch this gap. If crypto commissions don't recover while equities keep pumping, HK's Web3 hub narrative is cooked.