Although quarantine rules have largely been eased in China, Futu is still attracting investors and Li says he’s laying the groundwork for a similar expansion outside of China. The brokerage also reported that revenue shot up 272% in the same quarter to HK$946.2 million ($122.1 million). He acquired the licenses to operate in Singapore in August, and plans to offer stock trading services there by the middle of next year. Li’s first brush with stocks came in 2004, when Tencent debuted on the Hong Kong stock exchange. China’s traditional brokerages such as Huatai and Haitong are moving online, and starting to offer trading services for Hong Kong.

Source: Forbes November 20, 2020 09:20 UTC