What's Going On With Futu Holdings' Stock?

Erica Kollmann

October 01, 2024

Futu Holdings Ltd. (NASDAQ:FUTU) shares continued higher after-hours on Tuesday as shares of China-based companies rose following additional stimulus measures aimed at boosting China's economy were announced over the weekend.

The Details: China announced additional stimulus measures including lower mortgage rates and looser real estate purchase restrictions over the weekend. The new measures follow a package of extensive stimulus measures including lower interest rates and additional liquidity for its banking system announced last week.

Read Next: Tesla ‘Mojo Is Back,’ Tech Analyst Dan Ives Says Ahead Of Q3 Deliveries

Additionally, China's central bank will set up a swap facility that would give non-bank financial institutions access to at least $71 billion (500 billion yuan) in funding to buy shares, in an effort aimed at stabilizing China's stock market.

Futu, which operates trading platforms in China and around the world, may benefit from increased capital in the markets resulting from the intensive stimulus package. Futu shares have gained more than 40% over the past five days as investors pile into U.S.-traded Chinese stocks.

FUTU Price Action: According to Benzinga Pro, Futu Holdings shares ended Tuesday’s session up 12.43% at $107.54; shares are up 0.65% at $108.24 in after-hours trading.

Read Also:

Amazon Prime Day Data Insights Before October Event: Apple Purchases Up 22%, Celsius Tops Grocery Category

Photo: Shutterstock

Recommended

Man Who Called Nvidia Says "Buy These Five AI Stocks." - Ad

Is a Starlink IPO Coming in 2024? - Ad

Wall St Legend: Buy This Stock Before Inauguration - Ad

The House of Representatives passed a stopgap funding bill, excluding Trump's debt limit suspension demand, to avert a government shutdown, with Senate approval expected soon.

Penny Stock Applied Therapeutics' FDA Troubles Trigger Investor Lawsuit, Shareholders Claim Deception Over Govorestat Clinical Data

Adrian Alexandru files a securities lawsuit against Applied Therapeutics, alleging the company misled investors about clinical trials for govorestat.

How a Tiny 1% Use a Secret Whale CashFlow Strategy That Pays in Down Markets

How a Tiny 1% Use a Secret Whale CashFlow Strategy That Pays in Down Markets - Ad

How do you beat the market and earn while everyone else loses? You get paid without trading it. It's true. Using a legit "loophole" that only 1% of people in crypto even know about, you can actually get paid when other people trade.

Tesla Cybertruck Units Reportedly Found With Cell Dent Issues: EV Giant Starts Replacing Battery Packs

Tesla has reportedly found some units of Cybertruck with "cell dent" issues and the company has started replacing battery packs of those cars.

Senate begins final push to expand Social Security benefits for millions of people

WASHINGTON (AP) — The Senate is pushing toward a vote on to millions of people, setting up potential passage in the final days of the lame-duck Congress.

Buffett, Bloomberg, & 48 Congress Members Are Buying 1 Sector

Buffett, Bloomberg, & 48 Congress Members Are Buying 1 Sector - Ad

Why are Warren Buffett, Jeff Bezos, Michael Bloomberg, "The Walmart Family", Bill Gates, and 48 members of Congress shifting their stocks in a frenzy? And why are they all piling into ONE unique corner of the market... The last time we saw the world's wealthiest investors move their cash into this corner of the market, Stocks exploded 2,020%, 5,609% Even as high as 8,437% in just ONE year. Now, it's all happening again.

Bipartisan Lawmakers Aim To Break Up Health Care Giants With New Legislation

Pharmacy-benefit managers (PBMs) have been scrutinized for their role in drug distribution for years. Now a bipartisan group of lawmakers is threatening to break up the companies behind these so-called drug middlemen.

Edmunds: The best midsize SUVs for families in 2025

Along with smartphones and streaming subscriptions, the three-row SUV is now a staple of American family life. And since nearly every automaker sells one, choosing the right one can feel overwhelming.

Is Artificial Intelligence the Biggest Bubble in History?

Is Artificial Intelligence the Biggest Bubble in History? - Ad

Is it any surprise 31 billionaires (including: Warren Buffett, Elon Musk, Jeff Bezos, and more) are quietly unloading their OWN stocks at record pace? They're getting OUT of AI (and Tech Stocks) before it's too late. But why? And WHERE are they moving their cash for the biggest profits, in 2024?

Youngkin proposes tax relief on tips and cars in his adjusted Virginia budget plan

RICHMOND (AP) — Virginia Gov. Glenn Youngkin proposed a state budget plan on Wednesday to provide tax relief on tips and cars, measures his Republican administration touted as giving money back to middle- and lower-income workers.

Bitcoin Miner MARA Holdings Raises $850M In 0% Convertible Notes, Offering A 40% Premium Over Current Share Price

Bitcoin miner MARA Holdings Inc (NASDAQ:MARA) recently completed its $850 million offering of 0% convertible senior notes due 2031.

Time Magazine's "Armageddon Man" Goes Rogue

Time Magazine's "Armageddon Man" Goes Rogue - Ad

He's worked side-by-side with Warren Buffett, Alan Greenspan, Ron Paul and Jim Rickards... and he's written several #1 best-selling investment books. Now he's sharing the most exciting opportunity of his three-decade-career. Early investors can target up to 10X returns in 2 years from a play NOBODY else is talking about.

What do we know about the mysterious drones reported flying over New Jersey?

A large number of have been reported flying over parts of New Jersey in recent weeks, sparking speculation and concern over who sent them and why.

Drone sightings lead to airspace shutdown at Ohio military base, arrests near Boston airport

BOSTON (AP) — More suspected in the eastern U.S. led to a temporary airspace shutdown at an Air Force base in Ohio and arrests near Boston's Logan International Airport, as elected officials to identify and stop the mysterious unmanned flights.

Trump's Legacy-Defining Moment to Strike

Trump's Legacy-Defining Moment to Strike - Ad

Elon Musk predicts historic crisis in first year of Trump's presidency. but the surprising way trump solves it could cement his legacy.

Snowflake AI Revolution Gains Traction, Stock Forms Golden Cross

Snowflake is gaining attention in the market due to its Golden Cross pattern, and analysts predicting long-term growth due to its emphasis on AI product development.

Isak Andic, founder of Spanish fashion brand Mango, dies in accident, aged 71

BARCELONA, Spain (AP) — Isak Andic, the founder of Spanish fashion brand Mango, has died after suffering an accident, the company said on Saturday. He was 71.

Nixon's Revenge From Beyond the Grave

Nixon's Revenge From Beyond the Grave - Ad

He's known as the most disgraced president in U.S. history. But there's another story about Richard Nixon... a totally different story from 51 years ago... that you haven't been told... that would have made him a true American hero forever. Now... in a strange twist of fate... this same story could also give investors the chance to become wealthy beyond compare starting in 2025.

Dogecoin Poised For 85% Surge As Whales Accumulate 130 Billion DOGE

Dogecoin (CRYPTO: DOGE) is hinting at a possible price surge in the wake of its remarkable rally.

US senator says mysterious drones spotted in New Jersey region should be 'shot down, if necessary'

A U.S. senator has called for spotted flying over sensitive areas in New Jersey and other parts of the Mid-Atlantic region to be “shot down, if necessary,” as it remains unclear who owns them.

Scary Accurate AI Money Map Shows Strange Twist Coming for the Market

Scary Accurate AI Money Map Shows Strange Twist Coming for the Market - Ad

Over the last 5 years, this "scary accurate" AI Money Map has helped investors get in on the right stocks, at the right time -- during this AI revolution... Now it shows a strange twist is coming for the AI market that almost nobody sees coming... And worse still, no one's being warned about.

Companies tighten security after a health care CEO's killing leads to a surge of threats

“Wanted” posters with the names and faces of health care executives have been popping up on the streets of New York. Hit lists with images of bullets are circulating online with warnings that industry leaders should be afraid.

Trump Taps Perdue for China, Signaling More Tension with Beijing

President-elect Trump will name ex-Sen. David Perdue (R-Ga.) as his choice for ambassador to China, a pivotal role in shaping the future of U.S.-China relations.

5 Military Stocks to Invest In

5 Military Stocks to Invest In - Ad

As violence spreads across the globe will you stay on the sidelines? We can't stop war, but you can win from it. These 5 military growth stocks could potentially build your personal wealth during global turmoil. Historically, similar stocks have seen growth of up to 16,270% in just 18 months.

EPA awards $144 million to California to phase out big diesel trucks

SAN FRANCISCO (AP) — The Environmental Protection Agency is awarding $144 million in grants to fund 13 projects in California to help the state wean off fossil fuels and phase out big rigs that run on diesel.

IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power

WASHINGTON (AP) — IRS leadership on Thursday announced that the agency has recovered $4.7 billion in back taxes and proceeds from a variety of crimes since the nation's tax collector received a massive glut of funding through in 2022.

Do NOT Buy Nvidia, Apple, Microsoft, Meta, Tesla, or ANY Major Tech Stock...

Do NOT Buy Nvidia, Apple, Microsoft, Meta, Tesla, or ANY Major Tech Stock... - Ad

31 billionaires (including: Warren Buffett, Elon Musk, Jeff Bezos, and more) are quietly unloading shares of their OWN stocks at RECORD pace... But why? Wall Street legend Eric Fry says it's because, soon: "America's most popular stocks like Nvidia, Apple, Meta, Tesla, and thousands more... are set to come plummeting back to Earth." Erasing YEARS of investor profits... Sparking a $17 trillion PANIC on Wall Street...

Luigi Mangione Documentaries In The Works From Award-Winning Creators â€” And Possibly Rapper 50 Cent

Multiple documentaries about murder suspect Luigi Mangione have been announced with a rapper also considering making a film.

FDA says knockoff versions of Lilly obesity drug must come off the market

WASHINGTON (AP) — Specialty pharmacies and online companies that have been selling off-brand copies of two blockbuster drugs for obesity and diabetes will need to phase out their versions next year under a federal decision issued Thursday.

Sell Nothing. Retire Early. Mission Complete.

Sell Nothing. Retire Early. Mission Complete. - Ad

What if you could retire in 3 years instead of 10-15? While everyone is trying to trade the market and gamble on poop coins and meme coins, some people are using a little known method to actually earn passive returns. We probably have 3 years to exploit this before the party is over. That's plenty of time to retire early in crypto.

Why Joby Aviation Stock Is Falling After Hours

Joby Aviation shares are falling in extended trading Tuesday after the company announced it entered into an equity distribution agreement.

Trump Meets TikTok CEO Shou Zi Chew At Mar-A-Lago As Platform Urges Supreme Court To Block Looming Ban

President-elect Donald Trump met with TikTok CEO Shou Zi Chew as the ByteDance-owned platform urges the U.S. Supreme Court to block a looming ban that could take effect on Jan. 19, threatening billions in revenue and impacting small businesses.

Wall St. Icon: "If You Wait On This, It Will Already Be Too Late"

Wall St. Icon: "If You Wait On This, It Will Already Be Too Late" - Ad

If you have a significant amount of money in the stock market right now -- or if you're sitting on the sidelines waiting to make a move -- you DO NOT want to miss my latest research. My goal is to get as many people as I can in front of what's coming. If you wait until your hand is forced, it will already be too late. You absolutely MUST get on the right side of this thing.

How to avoid financial stress during the holiday season

NEW YORK (AP) — The holidays are meant to be a time of celebration with family and friends. But they can also bring pressure to spend money on gifts, gatherings and plane tickets home, exacerbated by , social media influencers and family expectations.

What's Going On With Portage Biotech Shares Tuesday?

Portage Biotech stock is trading higher after the company announced it signed a letter of intent with Immunova for the potential sale of its subsidiary.

There's Only ONE AI Company That Matters

There's Only ONE AI Company That Matters - Ad

It's not Nvidia, AMD, IBM, or any new startup. It's not even an artificial intelligence company... yet it holds the key to the entire AI market. Get all the details of the critical technology that the entire AI sector needs to survive.

As data centers proliferate, conflict with local communities follows

ALEXANDRIA, Va. (AP) — Richard Andre Newman thought he would live the rest of his life in his quiet, leafy neighborhood in suburban . He was born and raised in Bren Mar Park, where children ride their bikes and neighbors wave hello.

Hong Kong Approves Four New Crypto Exchanges, 'Positioning Itself As A Key Hub,' Expert Says

Hong Kong's securities regulator has approved four new cryptocurrency exchanges, marking a significant step in the city's efforts to position itself as a digital asset hub.

Is This Defi Coin Your Next "10-Bagger" Investment?

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

Broadcom's AI Chip Leadership Puts Pressure on Nvidia and Marvell, Analysts Say

Broadcom Inc (AVGO) stock surged on better-than-expected earnings and dividend raise, but missed revenue expectations. Analysts remain bullish on its AI and custom chip growth prospects.

Trending Now

Warren Buffett Said An Unusual Amount Of People Look At Berkshire Stock As A Savings Account, Here Is What The Oracle Of Omaha Recommends Investing Novices Do