Online brokers offering cross-border services to Chinese citizens are facing increasing regulatory scrutiny, further weighing on their stock prices. Photo: Shutterstock
Online brokers offering cross-border services to Chinese citizens are facing increasing regulatory scrutiny, further weighing on their stock prices. Photo: Shutterstock

No respite for Futu, Tiger Brokers as Chinese state media reiterate online services amount to ‘illegal financial activities’

  • Chinese state media continue to slam online brokers, with the stinging criticism putting further pressure on their stock prices
  • Futu Holdings’ share price has sunk 70.4 per cent from its peak in February, while Tiger Brokers has lost 81.5 per cent in the same period

Online brokers offering cross-border services to Chinese citizens are facing increasing regulatory scrutiny, further weighing on their stock prices. Photo: Shutterstock
Online brokers offering cross-border services to Chinese citizens are facing increasing regulatory scrutiny, further weighing on their stock prices. Photo: Shutterstock
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