China cracks down on online brokerages offering unauthorised cross-border trading
Chinese authorities have announced a crackdown on online brokerages that offer unauthorised cross-border trading, triggering a sharp selloff in Futu Holdings shares. The move has also hit the wealth of Leaf Li, the billionaire founder and chief executive of Futu, whose fortune fell sharply after the announcement. The development adds fresh pressure to a sector that has grown around digital access to markets and overseas investment.According to the supplied material, Li lost more than a quarter of his fortune on Friday, with his wealth falling by US$1.7 billion to US$4.7 billion. The decline was linked to a stock rout in... [Continue Reading]
360LiveNews | 26 May 2026 10:30 LONDON
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