Tiger, Futu post strong overseas gains after Beijing clampdown stalls mainland growth

Tiger Brokers and Futu Holdings, two of the region’s largest online brokerages, posted robust second-quarter growth as they expanded overseas to absorb Beijing’s toughest crackdown yet on illegal cross-border stock trading. UP Fintech Holding, parent of Tiger Brokers, reported on Wednesday that revenue rose 31.4 per cent year on year to a record US$182.3 million. Net income attributable to shareholders, however, slipped to US$39.4 million from US$41.4 million a year earlier. Chairman and CEO Wu...