Futu, Up Fintech brokerages pull apps from Chinese online stores

Source: cnbc.com cnbc.com

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A bus in Hong Kong bears an advertisement for digital brokerage Futu. Traders use the app to access markets beyond China. Shares of online brokerages Futu Holdings and Up Fintech Holding were sharply lower on the Nasdaq Tuesday after they said they'll remove their apps from online stores on the Chinese mainland in response to "rectification requirements" from the Chinese Securities Regulatory Commission. Many in the investing world regard the two firms as Chinese parallels to Robinhood Markets — popular trading platforms that people in China can use to make trades in markets beyond the country's borders, including the United...