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Finance

Under pressure at home, Chinese online brokers expand offshore

After making splash in Singapore, Futu and Tiger turn attention to Australia

HONG KONG -- Under growing regulatory pressure at home, Chinese online brokers that focus on offshore stocks are concentrating their energies on signing up new clients overseas.

The effort seems to be paying off. Among new clients registered by Futu Holdings and UP Fintech Holding last quarter, 90% came from outside mainland China, with Singapore proving a particularly fruitful market.

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