What's Going On With Futu Holdings' Stock?
Portfolio Pulse from Erica Kollmann
Futu Holdings Ltd. (NASDAQ:FUTU) shares rose after-hours as China announced additional stimulus measures, including lower mortgage rates and a swap facility to stabilize the stock market. Futu, which operates trading platforms, may benefit from increased market capital. Shares have gained over 40% in the past five days.
October 01, 2024 | 9:36 pm
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Futu Holdings shares increased due to China's new stimulus measures, which include lower mortgage rates and a swap facility to stabilize the stock market. This could lead to increased capital in the markets, benefiting Futu's trading platforms.
The announcement of China's stimulus measures, including lower mortgage rates and a swap facility, is likely to increase market liquidity. Futu Holdings, which operates trading platforms, stands to benefit from this increased capital flow, as evidenced by the recent 40% rise in its stock price.
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