Futu Holdings Limited Stock Price, News & Analysis

Futu Holdings (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, has received a reaffirmation of its investment grade rating from S&P Global Ratings. The company's long-term issuer credit rating remains at 'BBB-' with a stable outlook. S&P also noted that Futu's Hong Kong securities firm has a stand-alone credit profile of 'bbb'.

S&P's assessment highlights Futu's strong market position in Hong Kong and anticipates continued good growth momentum in its overseas business. The rating agency expects Futu to maintain its strong capitalization and robust funding profile to support ongoing business expansion.

Futu Holdings (Nasdaq: FUTU), parent company of moomoo, reported strong Q2 2024 earnings with US$400.7 million in total revenues, up 25.9% YoY, and US$166.0 million in non-GAAP adjusted net income, an 8.6% YoY increase. The company's global user base grew to 23.3 million, up 13.3% YoY, with 2 million paying clients, a 28.8% YoY increase. Total client assets reached US$74.2 billion, up 11.9% QoQ, while total trading volume surged 21.1% QoQ to US$207.7 billion. Futu expanded its offerings, including Japanese stock trading and cryptocurrency ETFs, with wealth management AUM surpassing US$10 billion. The company launched crypto trading in Singapore and Hong Kong, aiming to provide more diverse investment opportunities globally.

Futu Holdings (FUTU) reported strong Q2 2024 results, with total revenues increasing 25.9% year-over-year to HK$3,129.0 million (US$400.7 million). The company saw significant growth in key metrics:

- Paying clients up 28.8% YoY to 2,042,313
- Total client assets up 24.3% YoY to HK$579.3 billion
- Trading volume up 69.0% YoY to HK$1.62 trillion
- Net income up 8.0% YoY to HK$1,209.3 million (US$154.9 million)

Futu raised its 2024 guidance to 550,000 new paying clients. The company also launched cryptocurrency trading in Hong Kong and Singapore, and saw strong growth in wealth management, with total client assets in this segment up 83.6% YoY.

Futu Holdings (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, has announced it will report its financial results for the second quarter ended June 30, 2024, before U.S. markets open on August 20, 2024. The company will hold an earnings conference call on the same day at 7:30 AM U.S. Eastern Time (7:30 PM Beijing/Hong Kong Time).

Participants must pre-register for the conference call using the provided link. Upon registration, they will receive confirmation emails with dial-in numbers and personal PINs. A live and archived webcast of the call will be available on Futu's investor relations website.

Moomoo, an investment and trading platform, has released its 2024 second-quarter U.S. users survey results. The survey reveals that investors are trading more frequently and profiting more compared to last year, despite concerns about inflation and confidence. With U.S. markets near all-time highs, investors have adopted a more neutral stance, anticipating a possible recession and divided opinions on AI stock valuations.

Key findings include:

• 84% of surveyed investors believe technology stocks could outperform other sectors in the second half of 2024
• The S&P 500 was up almost 33% as of June 28, 2024, after its recent bottom in October 2023
• The Nasdaq 100 index was up almost 40%, primarily driven by gains in AI stocks

Justin Zacks, VP of Strategy at Moomoo Technologies Inc., noted that while many investors have benefited from market highs, there's a cautious tone due to uncertainties surrounding inflation, elections, recession, and interest rates.

Moomoo, a trading platform, has partnered with TradingView, a well-known charting and trading platform. This collaboration allows moomoo customers to trade directly from TradingView, accessing advanced charting tools and technical analytics. Moomoo provides its users with free investment courses, educational materials, and interactive events. The platform also hosts forums, trending topics, webinars, and seminars for community engagement. This partnership aims to enhance the user experience by integrating TradingView’s analytical tools and social network, expanding moomoo’s reach to millions of TradingView users.

Futu Holdings (Nasdaq: FUTU), a tech-driven online brokerage and wealth management platform, announced that its subsidiary, Futu Securities International (Hong Kong) , has upgraded its Type 1 license. Granted by the Hong Kong Securities and Futures Commission (SFC), this upgrade allows Futu Securities to offer virtual asset dealing services to retail and professional investors in Hong Kong. This development aims to expand Futu's service offerings and enhance its market position in the rapidly growing virtual asset sector.

Futu Holdings, a tech-driven online brokerage and wealth management platform, announced that its wealth management business has surpassed $10 billion in assets under management (AUM). The company offers mutual funds, private funds, bonds, and structured notes to clients in Hong Kong and Singapore. Additionally, its subsidiary, Moomoo Securities Malaysia, has received approval for Institutional UTS Adviser (IUTA) registration from the Federation of Investment Managers Malaysia to distribute wealth management products in Malaysia.

Futu Holdings, a tech-driven online brokerage and wealth management platform, announced a HKD440 million investment in Gravitation Fintech HK , the parent company of Airstar Bank.

This investment makes Futu the second largest beneficial owner with an indirect 44.11% stake in Airstar Bank.