Stocks booming in Chinese SWIFT alternative

Following the expulsion of some Russian banks from the international SWIFT bank transfer system, stocks tied to China’s alternative Cross-border Inter-bank Payments System are flying.

Stock in Orient Group and HyUnion Holding leapt up 105, while Infosec Technologies and Forms Syntron Information surged a massive 20% on Monday.

Some analysts even predicted this could mark “the end of USD egemony”.