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Tencent-backed Futu eyes new Asian markets outside China

Online broker's CEO Li explores options for dual listing, crypto offerings

“Futu, from day one, has always focused on outside of China market development,” CEO Leaf Li told Nikkei Asia. (Nikkei montage/Dylan Loh)

SINGAPORE -- 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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