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$富途控股(FUTU.US$ $向上融科(TIGR.US$ $Robinhood(HOOD.US$After initially unscathed from the crackdown on internet platforms, the regulatory risk seemed to be rearing its ugly head for the Chinese online brokerages. The subsequent rapid rebound in online brokerages $富途控股(FUTU.US$and $向上融科(TIGR.US$provided a strong rebuttal to naysayers including yours truly.
Sun Tianqi, head of the Financial Stability Department at the People's Bank of China (PBOC), echoed my reservations at a financial forum over the previous weekend. He specifically highlighted (in Chinese) certain securities trading institutions that provided securities investment services overseas mainly to domestic investors were conducting "illegal financial activities" when they did not obtain the relevant domestic licenses.
"According to professional media reports, 80% of the deposit accounts of Company A registered in the Cayman Islands are from China, and 55% of Company B registered in Hong Kong. From the perspective of business nature, cross-border Internet brokerages are driving without a license in China and are illegal financial activities." - Sun Tianqi (translation by Google)
Sun explained that financial institutions such as China's securities firms "dare not provide services similar to the cross-border delivery model in the United States." Hence, it does not make sense for foreign registered brokerages to offer services to Chinese domestic users.
Nevertheless, I don't think it's fatal for Futu Holdings and UP Fintech if they can't serve their Chinese accounts in the future. Futu still has nearly half its customers overseas and its Moomoo trading app is popular thanks to the rich features it offers. UP Fintech, better known as Tiger Brokers, has rapidly increased its overseas customer base. Its trading app is also welcomed by users.
In the U.S., $Robinhood(HOOD.US$is having a rough time as well following lackluster quarterly results and guidance. HOOD stock fell 21.7 percent over the past month. FUTU and TIGR stocks fared worse, with both down nearly 40 percent in the same period.
Sun Tianqi, head of the Financial Stability Department at the People's Bank of China (PBOC), echoed my reservations at a financial forum over the previous weekend. He specifically highlighted (in Chinese) certain securities trading institutions that provided securities investment services overseas mainly to domestic investors were conducting "illegal financial activities" when they did not obtain the relevant domestic licenses.
"According to professional media reports, 80% of the deposit accounts of Company A registered in the Cayman Islands are from China, and 55% of Company B registered in Hong Kong. From the perspective of business nature, cross-border Internet brokerages are driving without a license in China and are illegal financial activities." - Sun Tianqi (translation by Google)
Sun explained that financial institutions such as China's securities firms "dare not provide services similar to the cross-border delivery model in the United States." Hence, it does not make sense for foreign registered brokerages to offer services to Chinese domestic users.
Nevertheless, I don't think it's fatal for Futu Holdings and UP Fintech if they can't serve their Chinese accounts in the future. Futu still has nearly half its customers overseas and its Moomoo trading app is popular thanks to the rich features it offers. UP Fintech, better known as Tiger Brokers, has rapidly increased its overseas customer base. Its trading app is also welcomed by users.
In the U.S., $Robinhood(HOOD.US$is having a rough time as well following lackluster quarterly results and guidance. HOOD stock fell 21.7 percent over the past month. FUTU and TIGR stocks fared worse, with both down nearly 40 percent in the same period.
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1。简介
MACD 是移动平均线收合差异的缩写,是一种技术指标,用于表示证券价格的两条移动平均线之间的关系。它旨在揭示股票价格趋势的潜在变化。
MACD 是通过评估长期指数移动平均线和短期 EMA 之间的收敛和背离情况来计算的。EMA是一种移动平均线(MA),它赋予了最新的数据点更多的权重...
MACD 是移动平均线收合差异的缩写,是一种技术指标,用于表示证券价格的两条移动平均线之间的关系。它旨在揭示股票价格趋势的潜在变化。
MACD 是通过评估长期指数移动平均线和短期 EMA 之间的收敛和背离情况来计算的。EMA是一种移动平均线(MA),它赋予了最新的数据点更多的权重...
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$道琼斯指数(.DJI.US$ $纳斯达克综合指数(.IXIC.US$ $标普500指数(.SPX.US$
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