Futu and UP Fintech plunge following Chinese regulator statement
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Daiwa Securities Defending Futu Holdings Limited (FUTU)
December 30, 2022 12:14 PM ESTDaiwa Securities analyst Leon Qi reiterated a Buy (1) rating and $64.00 price target on Futu Holdings Limited (NASDAQ: FUTU).
The analyst comments "Whats new: On 30 December 2022 evening, CSRC said it will regulate Futus cross-border brokerage activities by 1) prohibiting incremental customer acquisition domestically, and 2) ensuring proper handling of its existing business by allowing existing domestic clients to keep trading overseas... More
UP Fintech Holding Limited (TIGR) call put ratio 2.6 calls to 1 put as shares sell off 24%
December 30, 2022 10:04 AM ESTUP Fintech Holding Limited (NASDAQ: TIGR) 30-day option implied volatility is at 85; compared to its 52-week range of 55 to 148. Call put ratio 2.6 calls to 1 put as shares sell off 24% after CSRC warning on mainland China operations.
... MoreIncreasing unusual put option volume: TIGR CALM FUTU CAG HOG SJR RKLB NVCR NKLA
December 30, 2022 9:58 AM ESTIncreasing unusual put option volume: TIGR CALM FUTU CAG HOG SJR RKLB NVCR NKLA
... MoreIncreasing unusual call volume: MLCO TIGR TGTX IBN WE VKTX FUTU UDN PFSI
December 30, 2022 9:58 AM ESTIncreasing unusual call volume: MLCO TIGR TGTX IBN WE VKTX FUTU UDN PFSI
... MoreChina regulator asks Futu and UP Fintech to stop soliciting mainland clients
December 30, 2022 8:52 AM ESTSHANGHAI/HONG KONG (Reuters) -China's securities regulator said on Friday that online brokerages Futu Holding and UP Fintech Holding have conducted unlawful securities businesses, and will be banned from opening new accounts from mainland Chinese investors, sending their shares tumbling.
The long-awaited official penalty comes more than a year after Chinese official media warned that New York-listed Futu and UP Fintech, which do not have licences in China, face regulatory risks.
Reuters reported earlier that Chinese officials were planning to ban online brokerages such as Futu Holdings Ltd and UP Fintech Holding Ltd from offering offshore trading... More
Futu (FUTU), UP Fintech (TIGR) Sink After China Asks Brokers to Halt Illegal Business Activity
December 30, 2022 7:14 AM ESTFutu Holdings (NASDAQ: FUTU) and UP Fintech Holding Limited (NASDAQ: TIGR) declined Friday after China asked the cross-border brokerages to rectify illegal business activities.
The China Securities Regulatory Commission said in a statement Friday... More
