$Futu Holdings Ltd (FUTU.US)$ Actually the loans for stock r...
$Futu Holdings Ltd (FUTU.US)$ Actually the loans for stock repurchase etc applies only to A stocks, not sure if apply to US market china ADRs and HK stocks. some of the ADRs and HK stocks are not dual listed in China, so are just rising because most Chinese stocks rise. So I can understand if Chinese brokerages pump because government is encouraging Chinese to buy and hold A shares, so volume and new accounts will increase significantly, but not sure if many Chinese will use Moomoo to buy and hold stocks
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WayneTheBoon : Stocks that are primary listed in HK are eligible for stock connect
婆婆老本 : magic box.
paladinsir OP : The point is Chinese brokerages may see 2-7x more volume, assets, new accounts but moomoo customers are from US, HK, Singapore, Australia, Japan, Malaysia. China customers maybe less than 15%. These customers generally hold other stocks that are non Chinese, so the year on year gain in volume, assets, new accounts may be only 20-30% increase from last year but the stock has risen 55%. Moomoo does not have a license in China and cannot be downloaded in China without HK SIM card. This time is different from the 2020 rise when US also do QE, heck, every country did QE, and so volume of stock buying in each country increased. Also that time, there was a hope that moomoo would expand quickly in China but unfortunately, didn’t happen. I think China regulators will not allow license so soon, else there will be a legitimate way to transfer money out of China , causing implications for yuan. Capital control is especially stringent during low economy growth as the government want Chinese to spend on Chinese businesses to boost their growth, not foreign companies.