Brokerages
Futu founder ‘Brother Leaf’ humbled by China broker crackdown
Income from Hong Kong and overseas brand Moomoo should easily offset pressure from the ban
Singapore investors keep funds with Moomoo, Tiger Brokers, Longbridge amid China curbs
All three brokerages assure users in Singapore that business continues as usual
Chinese brokers pump US$5.6 billion offshore to fight Wall Street
Brokers are prioritising overseas growth to escape intensifying competition in the domestic market
Futu to suspend Chinese mainland investors from adding new positions
The service halts are in line with regulators’ requirements for overseas institutions to wind down prohibited activities
Tiger Brokers to suspend investors in mainland China from adding new positions
However, they can buy or sell securities from existing accounts when they travel offshore
Tiger Brokers’ parent UP Fintech swings into Q1 loss of US$26.9 million on penalty from China probe
The group is putting up to US$50 million towards a year-long share buyback programme
Tiger Brokers, Moomoo, Longbridge Singapore units ‘financially independent’ amid China crackdown: MAS
But market observers note that the separation between customers’ funds and a company’s assets ‘is not completely airtight’
Taiwan brokerages seek US$1.4 billion of loans, adding to rush
Among them is KGI Securities, which is in talks with banks for a facility of around NT$20 billion, sources say
China trading curbs may hit HK$250 billion of Hong Kong assets
It comes as more mainland investors chase higher returns in the US and other overseas markets
China to form brokerage with US$86 billion assets by merging firms
Beijing is trying to develop its domestic investment banks to allow them to compete with global heavyweights
