Chinese investors snapped up shares related to blockchain across the board on Monday after an endorsement by President Xi Jinping of the new digital ledger technology, with more than 85 stocks gaining by the 10 per cent daily limit.
Shares in scores of tech companies with their sights on blockchain and even those of groups only tangentially related hit the 10 per cent upside limit that halts trading in Shenzhen and Shanghai.
On the Shenzhen exchange, an index of blockchain-related equities compiled by data provider Wind climbed 8.9 per cent to its highest level since April, with every one of its 52 component stocks advancing. Shenzhen’s tech-focused ChiNext index rose 2.2 per cent.
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