Tencent-backed online broker Futu plans to venture into new Asian markets

Tencent-backed online broker Futu plans to venture into new Asian markets

Photo: Javier Esteban /Unsplash.com

One of China’s most prominent online brokers plans to venture into “one or two” new markets in Asia within the next 12 months, in a concerted international push amid regulatory uncertainty at home, as Beijing cracks down on internet platform companies.

The Shenzhen- and Hong Kong-headquartered Futu Holdings, backed by Chinese technology giant Tencent, is exploring new opportunities in the 10-member Association of Southeast Asian Nations, which is home to more than 650 million people. The broker opened for business in the region last year, planting its flag in Singapore.

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