cross-border trading
Coverage of cross-border trading in the Nexus archive.
- Futu first-quarter profit down 61% following US$272 million regulatory fine
Futu Holdings reported a 61.2% decline in first-quarter profit to HK$831 million due to a US$272 million regulatory fine. Mainland Chinese clients account for approximately 20% of its assets and revenue, with analysts warning that Beijing's crackdown on cross-border trading may hinder future earnings growth.
- China online brokerage crackdown trims billionaire owner’s wealth
Chinese billionaire Leaf Li lost $1.7 billion, reducing his fortune to $4.7 billion, following Beijing's crackdown on online brokerages offering unauthorized cross-border trading. The stock of his US-listed company, Futu Holdings, plummeted amid the regulatory action.
- China online brokerage crackdown trims billionaire owner’s wealth
Chinese billionaire Leaf Li's wealth dropped by $1.7 billion after Beijing cracked down on unauthorized cross-border trading by online brokerages, causing a stock rout for his company Futu Holdings. His fortune, primarily tied to his stake in US-listed Futu, has halved since October.