|Bid||3.6700 x N/A|
|Ask||3.7000 x N/A|
|Day's Range||3.7400 - 3.7800|
|52 Week Range||3.7400 - 3.7800|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
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(Bloomberg) -- China’s order for cross-border brokers to rectify their mainland business will likely erode customer base at Futu Holdings Ltd. and lead to negative market sentiment, analysts said. Most Read from BloombergChina’s Foreign Minister Says ‘Deeply Impressed’ With AmericansElon Musk Becomes First Person Ever to Lose $200 BillionShopify Tells Employees to Just Say No to MeetingsStocks Drop as Tesla, Apple Keep Traders on Edge: Markets WrapChina slammed Futu and Up Fintech Holding Ltd. a
Wall Street didn't enjoy 2022 very much, and it was a particularly bad year for the Nasdaq Composite (NASDAQINDEX: ^IXIC). The index was down another 1% on Friday morning, bringing its losses for the year to 34% and marking a steep reversal from the massive gains the Nasdaq has enjoyed in each of the three previous years. There are plenty of culprits for the poor performance of the Nasdaq in the past year, but one fact about the index that differs from its fellow stock market benchmarks is that the Nasdaq Composite includes the performance of foreign companies that list their shares on the exchange.
Shares of the online Chinese brokerages Futu Holdings (NASDAQ: FUTU) and UP Fintech Holding (NASDAQ: TIGR) are getting crushed today after the China Securities Regulatory Commission (CSRC) asked both companies to stop accepting new Chinese customers. As of 10:49 a.m. ET, shares of both Futu and UP Fintech had each fallen about 25%. In a statement today, the CSRC said both Futu and UP Fintech had operated trading businesses without the agency signing off.