Is SORA halal?
AsiaStrategy
Doubtful
No clear verdict is possible for AsiaStrategy — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 15 October 2026
Exchange
NASDAQ
Price
2.38
Day
-3.25%
Market cap
$62.2M
Industry
Luxury Goods
Sector
Consumer Cyclical
Manually identified reason
Automatic screening reads the industry label, not what's inside. This company's filings were checked by hand and a hidden prohibited activity was found:
Doubtful: crypto — Bitcoin treasury + BTC-collateralised lending (AsiaStrategy); scholarly disagreement + share/interest nature unclear
What the company does
AsiaStrategy (formerly Top Win, Hong Kong) is a luxury-watch retailer that turned into a Bitcoin-treasury company in 2025: holding Bitcoin and lending against Bitcoin collateral (Sept 2026). The Yahoo label ('Luxury Goods') reflects only the legacy business.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Doubtful: crypto — Bitcoin treasury + BTC-collateralised lending (AsiaStrategy); scholarly disagreement + share/interest nature unclear
Interest-bearing debt / market cap
limit 30%
22.8%
Pass
Cash & investments / market cap
limit 30%
36.3%
Fail
Non-compliant income / total revenue
limit 5%
1.1%
Pass
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Luxury Goods — for comparison.
Related articles
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- Halal investingBlogWhy does a stock's halal status change?A stock that was halal yesterday can leave the list today. The four main reasons — and why none of them is a bug.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.