China’s crackdown on cross-border trading sent the shares of popular brokers Futu Holdings Ltd. and Up Fintech Holding Ltd. plummeting, threatening pain for hedge funds and other investors who back these firms.
China’s crackdown on cross-border trading sent the shares of popular brokers Futu Holdings Ltd. and Up Fintech Holding Ltd. plummeting, threatening pain for hedge funds and other investors who back these firms.
A Futu Securities store in Hong Kong. Photographer: Lam Yik/Bloomberg
Trading in US-listed options on Futu Holdings Ltd. and Up Fintech Holding Ltd. surged just before China’s regulator’s announcement that it planned to penalize them triggered a record share slump.
Trading in US-listed options on Futu Holdings Ltd. and Up Fintech Holding Ltd. surged just before China’s regulator’s announcement that it planned to penalize them triggered a record share slump.
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