HashKey Holdings lost 5% on its first day in Hong Kong.

HashKey Holdings experienced nearly a 5% loss on its first trading day on the Hong Kong Stock Exchange. This situation indicates that investors are taking a cautious approach in the market.

The company reported significant losses due to its ultra-low fee strategy. This strategy has not shown growth in line with operating costs.

HashKey's growth is becoming increasingly dependent on Hong Kong's regulatory framework. This situation is affecting the company's market outlook.