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.