Alibaba Leads Hong Kong Tech Rally: What's Going On With Futu Holdings Stock Wednesday?
Futu Holdings Limited (NASDAQ:FUTU) stock is trading higher on Wednesday, thanks to Alibaba Group Holding Limited (NYSE: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 (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB).
Price Action: FUTU shares traded higher by 3.23% at $68.21 at the last check Wednesday.
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