ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
China tech

'China's Robinhood' tries to calm investor nerves as shares sink

Online broker Futu struggles in crosshairs of Beijing's regulatory pressure

Futu and other online brokers allowed mainland Chinese to invest abroad, but a regulatory crackdown is undermining this business model   © Reuters

HONG KONG -- Online brokerage Futu Holdings, known as "China's Robinhood," attempted to reassure anxious clients on Wednesday that it would not close accounts and will focus on expanding its presence in Hong Kong and Singapore after Beijing increased pressure on the industry, sending its shares tumbling.

In a conference call with analysts and individual investors, senior executives from Tencent-backed Futu acknowledged that "recent headline news" had raised fears among existing clients and created challenges in acquiring new ones, but maintained the situation was "under control."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more