‘Stock Advisor’ JF Wealth Defies Market Basics with Ill-Timed IPO Bid

China’s largest online investor content provider has filed a third time for a Hong Kong listing despite some of the weakest market sentiment in years Key Takeaways: Online investment advisor JF Wealth has filed for a Hong Kong IPO, deriving most of its revenue from high-end education and content services The company faces mounting headwinds from rapidly growing sales and marketing costs and increasing refund requests By Emily Chan Basic investment courses advise stock buyers to avoid weak markets like the ones much of the world is seeing right now,…

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FinVolution Picks Up the Pace in Its Global Expansion

The fintech lender announced a major boost in the size of the borrowing facility from its Indonesia partner, though the expanded amount is still small at around $30 million Key Takeaways: FinVolution has announced a major expansion in the size of its borrowing facility from Indonesian partner PT Bank Jago The fintech lender still gets a miniscule part of its business from outside China, with international loans accounting for just 2% of its lending transaction volume By Doug Young Every journey begins with a single step, especially when that first…

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UP Fintech Flexes Global Expansion Muscle With NYSE Membership

In its latest move to expand outside China, the online brokerage has become a member of the world’s largest stock exchange  Key Takeaways: UP Fintech’s TradeUP Securities unit has become a member of the New York Stock Exchange, giving its customers direct access to the bourse to enable faster trades at lower costs The company has been expanding outside China to reduce reliance on its home market where it’s subject to a long list of ever-changing regulations  By Warren Yang Online brokerage UP Fintech Holding Ltd.’s (TIGR.US) list of global…

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Online Brokers UP Fintech, Futu Stumble on Weak Stock Markets

China’s leading pair of internet-based stock brokers report first-quarter revenue declines, as UP Fintech reports second consecutive quarterly loss Key Takeaways: UP Fintech and Futu reported sharp first-quarter revenue declines as weak stock markets caused trading commissions to slide Futu reined in spending during the period, while UP Fintech’s spending rose on aggressive hiring for its global expansion   By Doug Young Charging tiger or crouching bull? Investors seem to prefer the latter these days, at least based on the latest earnings from China’s two leading online brokers, UP Fintech…

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FAST NEWS: Baidu Joins List of U.S.-Traded Chinese Stocks in Danger of Delisting

The latest: China’s dominant search engine Baidu Inc. (BIDU.US; 9888.HK) on Wednesday was added to a growing list of companies facing the risk of forced delisting from U.S. stock exchanges. Looking Up: Baidu wasn’t the only company added to the list. Its video affiliate iQiyi (IQ.US) and online brokerage Futu (FUTU.US) were also among five companies added to the U.S. Securities and Exchange Commission’s (SEC) updated list. Take Note: Baidu is the largest Chinese company added to the list to date, with a market value of around $50 billion. Before…

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UP Fintech Steps Up Diversification Drive in Face of Regulatory Uncertainty

Company also known as Tiger Brokers announces major new developments in Hong Kong and Singapore as its stock takes a beating on official reports questioning its operations Key Takeaways: UP Fintech’s shares have lost a third of their value following a series of official comments expressing concerns about the company’s operations Company’s latest moves in Hong Kong and Singapore are part of a drive to diversify its business beyond selling overseas-listed stocks to Chinese investors By Shirley Lau Crouching may be a good defensive posture to assess the landscape when…

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Tiger Brokers-Backed SPAC Makes Stealthy Trading Debut

TradeUP Acquisition Corp. raised $40 million as the second ‘blank check company’ sponsored by China’s No. 2 broker for Chinese investing in U.S. and Hong Kong stocks Key points: The ‘blank check company’ sponsored by Tiger Brokers made a quiet trading debut last week after raising $40 million The SPAC is part of the company’s fast-growing investment banking services for Chinese companies listing overseas By Doug Young Following a strong start to the year, Chinese IPOs in New York have ground to a sudden halt as companies figure out their…

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UP Fintech Lurks Behind Launch of New ‘Blank Check Company’

Company better known as Tiger Brokers is getting a growing slice of its revenue by helping Chinese firms list in the U.S. and Hong Kong Key points: UP Fintech’s new SPAC listing reflects the growing importance of investment banking to its business mix The company is emerging as a strong second choice behind the larger Futu for investors seeking to tap Chinese demand for overseas-listed stocks By Doug Young An announcement last week about an IPO from a company called TradeUP Global Corp. (Nasdaq: TUGCU) had all the markings of…

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Stock Brokerage Futu Outshines the Markets

Specialist in trading U.S.- and Hong Kong-listed stocks posts triple-digit revenue growth in third quarter, with profits up by factor of 12 Key takeaways: Futu is likely to maintain triple-digit revenue and profit growth this year as it adds new customers and existing ones boost their trading on its platform The company’s fortunes are highly dependent on China’s economy and U.S. and Hong Kong stock markets, which both look relatively stable over the near-term By Doug Young It’s not often that a stock broker becomes a bigger story than the…

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