Zinger Key Points
- Futu Holdings shares rise 3.23% to $68.21, driven by Alibaba-led tech rally in Hong Kong.
- Futu's wealth management business surpasses $10 billion in AUM, offering diverse investment products in Hong Kong and Singapore.
- Learn the top momentum trading strategies for today’s whipsaw market, live with Chris Capre on Sunday, May 4 at 1 PM ET. Reserve your free spot now.
Futu Holdings Limited FUTU stock is trading higher on Wednesday, thanks to Alibaba Group Holding Limited BABA leading a tech rally in Hong Kong.
The online brokerage and wealth management platform also announced Wednesday that its wealth management business has surpassed $10 billion in assets under management.
Futu’s wealth management platform offers mutual funds, private funds, bonds, and structured notes to Hong Kong and Singapore clients.
Futu Holdings stock gained 66% in the last 12 months. Investors can gain exposure to the Chinese equity market via iShares China Large-Cap ETF FXI and KraneShares Trust KraneShares CSI China Internet ETF KWEB.
Price Action: FUTU shares traded higher by 3.23% at $68.21 at the last check Wednesday.
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