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China’s brokerage crackdown: banks cut forecasts for Futu, Tiger
CCB and Goldman Sachs slash brokerage valuations, profit forecasts after regulatory action on unauthorised cross-border trading.
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zerohedge.com
China Moves To Shut Down Offshore Stock-Trading Channels Used By Mainland Investors
The clampdown hits a route that Chinese investors use to trade U.S. and Hong Kong stocks, raising capital-control and ADR concerns...
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cryptobriefing.com
Futu and Up Fintech shares crater as China launches sweeping crackdown on cross-border trading
Futu and Up Fintech shares fell 30-40% after China's CSRC imposed massive fines and barred mainland clients from opening new positions on offshore platforms.
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scmp.com
Editorial | Cross-border crackdown part of keeping China’s capital market stable
The penalties handed out to leading brokerages are harsh, but Beijing must show it means business as it cleans up China’s capital market.
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China’s brokerage crackdown: banks cut forecasts for Futu, Tiger
CCB and Goldman Sachs slash brokerage valuations, profit forecasts after regulatory action on unauthorised cross-border trading.
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Futu first-quarter profit down 61% after $272 million regulatory fine
Analysts cut earnings forecasts for online brokerage following Beijing’s latest crackdown on cross-border trading.