On June 15, Futu Holdings rose 5.36% in regular trading, trading at $102.52/share, with turnover of approximately $69.5 million. The rebound follows the official implementation of cross-border brokerage restrictions on June 12, which markets view as a removal of regulatory overhang.
On June 12, Futu, Tiger Brokers, and Longbridge simultaneously entered a \"sell-only, withdraw-only\" mode for mainland China accounts, suspending all buy orders, new positions, and fund deposits. This marked the formal execution phase of the comprehensive rectification plan issued by China's CSRC and seven other government agencies on May 22. Futu faces a proposed penalty of approximately RMB 1.85 billion. However, the company disclosed that mainland China funded accounts represent only about 13% of total funded accounts, with related client assets accounting for roughly 17% of the total.
With enforcement now underway and the two-year transition timeline confirmed, market participants appear to be treating the regulatory action as fully priced in. The broader Investment Banking and Brokerage sector also showed strength, with Robinhood up 5.29% and Interactive Brokers up 3.28%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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