Why Shares of Tencent, PDD, and Futu Are Rising Today [Yahoo! Finance]
Futu Holdings Limited - American Depositary Shares (FUTU)
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Source: Yahoo! Finance
Chinese stocks moved higher today after the Federal Reserve's jumbo 50-basis-point interest rate cut prompted investors to bet that China's central bank may follow suit. Shares of the Chinese tech conglomerate Tencent Holdings (OTC: TCEHY) traded roughly 3.3% higher, as of nearly 1 p.m. ET, while shares of the Chinese online retailer PDD Holdings (NASDAQ: PDD) traded nearly 2% higher. Meanwhile, shares of the Chinese brokerage and wealth manager Futu Holdings (NASDAQ: FUTU) had jumped nearly 15%. The need for government and monetary stimulus Chinese stocks have been on a very different path than U.S. stocks this year, with the Shanghai Composite Index down close to 8% year to date. China's economy has really struggled this year, a trend that continued in August with retail sales, industrial production, and urban investment growing at a slower pace than expected in August. China has been dealing with high unemployment and a significant housing downturn. China's central bank cu
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FUTU
News
- Futu Holdings Ltd (FUTU) Q3 2024 Earnings Call Highlights: Robust Revenue Growth and Strategic ... [Yahoo! Finance]Yahoo! Finance
- Futu Holdings Limited (NASDAQ: FUTU) was downgraded by analysts at Citigroup Inc. from a "buy" rating to a "neutral" rating. They now have a $95.00 price target on the stock, up previously from $79.00.MarketBeat
- Moomoo's Parent Company Futu Releases Q3 Earnings Result with US$442.3 Million in Total Revenues, a 29.6 % YoY IncreasePR Newswire
- Moomoo's Parent Company Futu Releases Q3 Earnings Result with US$442.3 Million in Total Revenues, a 29.6 % YoY IncreasePR Newswire
- Futu Announces Third Quarter 2024 Unaudited Financial Results and Special Cash Dividend [Yahoo! Finance]Yahoo! Finance
FUTU
Sec Filings
- 11/19/24 - Form 6-K
- 11/14/24 - Form SC
- 11/12/24 - Form SC
- FUTU's page on the SEC website