Latest news with #HK
HKFP
12 hours ago
- Politics
- HKFP
Hong Kong nat sec. police question 2 other relatives of wanted activist Joe Tay
Hong Kong national security police have brought in two other relatives of wanted activist Joe Tay for questioning – the second such occasion this month. Tay's cousin and her husband were brought to Tsing Yi Police Station for questioning on Thursday, local media reported. HKFP saw a man and a woman, both wearing caps and face masks, leave the police station in two private vehicles at around 11 am. In response to HKFP enquiries, police said its National Security Department interviewed two individuals on Thursday to 'assist in an investigation.' The case is still under investigation, and no arrests have been made so far, the force also said, without giving any details. Tay's other cousin and his wife were brought in by the police for questioning earlier this month. Tay, 62, currently based in Canada, is one of six overseas activists for whom police issued arrest warrants in December. He left Hong Kong in June 2020. Each wanted person has a HK$1 million bounty on their head for alleged national security violations. Tay is accused of incitement to secession and collusion with foreign forces. He allegedly operated a channel called 'HongKonger Station' between June 2020 and June 2024, where he published numerous videos to incite secession and called on foreign countries to impose sanctions on China and Hong Kong. Apart from Tay, 18 other overseas activists are wanted by the Hong Kong authorities, including former lawmakers Ted Hui and Dennis Kwok, and former student leader Nathan Law. Police have brought in a number of the activists' family members for questioning, including the parents of US-based activist Frances Hui. In early May, police charged Anna Kwok's father, Kwok Yin-sang, with attempting to handle financial assets of an 'absconder.' He is the first family member of a wanted activist to be charged under the Safeguarding National Security Ordinance, more commonly known as Article 23. The 68-year-old stands accused of breaching the domestic security law by attempting to obtain funds from an AIA International life and personal accident insurance policy, with Anna Kwok, based in the US, listed as the insured person. He was granted bail by the High Court last week after being denied bail at a lower court. Separate to the 2020 Beijing-enacted security law, the homegrown Safeguarding National Security Ordinance targets treason, insurrection, sabotage, external interference, sedition, theft of state secrets and espionage. It allows for pre-charge detention of up to 16 days, and suspects' access to lawyers may be restricted, with penalties involving up to life in prison. Article 23 was shelved in 2003 amid mass protests, remaining taboo for years. But, on March 23, 2024, it was enacted having been fast-tracked and unanimously approved at the city's opposition-free legislature.
Malaysian Reserve
18 hours ago
- Business
- Malaysian Reserve
Moomoo's Parent Company Futu Releases Q1 2025 Results
Net Income up 98% YoY to US$285 million JERSEY CITY, N.J., May 29, 2025 /PRNewswire/ — Moomoo's parent company Futu Holdings Ltd. ('Futu' or 'the Company')(Nasdaq: FUTU), a leading global tech-driven online brokerage and wealth management platform, announced its unaudited Q1 2025 earnings with US$603.4 million in revenues, up 81.1% year-over-year ('YoY'), and US$285 million in non-GAAP adjusted net income, up 97.7% YoY. As of March 31, 2025, the Company reported 26.25 million registered users, 4.96 million brokerage accounts and 2.67 million funded accounts. The client assets grew 12% quarter-over-quarter ('QoQ') and 60% YoY, reaching US$107 billion. Continued Growth Across Markets & Business Segments The Company entered 2025 with a strong quarter, delivering solid growth across all markets. Japan, Canada and Malaysia achieved record highs in new funded accounts, while the US and Australia both logged double-digit QoQ growth in total funded accounts. In Singapore, strong asset inflows from the high-net-worth sector highlighted the Company's increasing appeal to investors with significant capital and complex financial needs. In Hong Kong, a market already highly penetrated, the Company continued to see accelerated client acquisition throughout the quarter, with a double-digit QoQ increase in client assets, and a nearly 20% quarterly rise in daily active users on its app, reinforcing the Company's unrivaled position in the market. In May, the Company announced its entry into New Zealand – the eighth market it serves – marking another successful stride in its expanding global footprint. Trading activities across the Company's platforms remained vigorous in Q1, with total trading volume reaching a record high of US$413.3 billion, up impressively by 140% YoY and 11% QoQ. Hong Kong and US equities soared 227% and 116% YoY, respectively. Cryptocurrency recorded double-digit QoQ growth in both traders and client assets, showing investors' growing appetite for this particular asset. The Company's wealth management continued to expand globally, driven by robust investment demand for safe-haven assets amidst market uncertainties. The total assets under management ('AUM') reached US$17.9 billion at Q1's market closure, a YoY increase of 118%, with AUM in Hong Kong and Singapore growing steadily during Q1, and in Japan and Malaysia increasing notably. The strength in retail investing fueled synergistic growth in the Company's corporate and institutional services, reinforcing its leadership as a comprehensive financial services platform. By the end of Q1, the Company's IPO and IR clients totaled 498. In Malaysia, moomoo was the top platform that amassed the most subscribers for Oriental Kopi IPO. In Hong Kong, the Company recorded new successes in IPO subscriptions, including the achievement of over HK$1 trillion in Mixue IPO. Additionally, the Company achieved steady growth in its Employee Stock Ownership Plan and Trust services, earning a strong reputation among clients. Enhancing Platform Capabilities to Serve Various Investor Needs In Q1, the Company advanced its product roadmap by introducing tailored features to better serve investors with varying needs. To enhance accessibility to the US market, fractional US shares trading was introduced in Japan. To address the growing demand for options trading, the Company introduced tools such as the Options Strategy Builder and Options Probability Analysis, greatly lowering the entry barrier. The Company also broadened its wealth management offerings across multiple markets, including the launch of US dollar money market funds in Japan, and non-money market mutual funds in Malaysia. To deliver a more intuitive and informed investing experience, the Company rolled out the new Insights feature across its platforms, allowing users to imitate expert strategies and get inspirations in new investment opportunities. Furthermore, the Company streamlined the US stock order execution process this quarter, enhancing efficiency and allowing investors to cover full trading time blocks with a single US stock order. Moomoo's innovation and service excellence continued to gain industry recognition in Q1. In Singapore, moomoo clinched four prestigious awards from CME Group, including the top honor of 'Influential Broker 2024'. In Japan, the renowned research firm Japan Marketing Research Organization, Inc. granted moomoo with four awards, naming it the 'No.1 US Stock Investment Platform'. In Malaysia, moomoo received the 'Technology Excellence Award' from the Asian Business Review magazine, a testament of its leadership in the technological advancement. Deepening Community Connections and Advancing Corporate Social Responsibility In Q1, the Company deepened its commitment to empowering investors by partnering with Seeking Alpha, a leading financial research platform, to deliver pro-level tools and advanced services to all its global users. Recently in the US, moomoo proudly announced a ground-breaking partnership with the New York Mets, a member of the Major League Baseball (MLB), in a multi-year, multi-million-dollar partnership, marking its first high-profile sports sponsorship. This collaboration is set to enhance the sports experience for Mets fans, moomoo customers and New York tri-state area communities through creative initiatives and joint efforts. The Company also continued to expand its community engagement efforts. In the US, moomoo sponsored the Jersey City Marathon, while in Australia, it partnered with local NGOs to support local communities. In Japan, moomoo led initiatives to encourage female participation in investing. These diverse activities demonstrate moomoo's commitment to leveraging its brand influence to foster positive change and build better communities worldwide. About moomoo Moomoo is a leading global investment and trading platform dedicated to empowering investors with user-friendly tools, data, and insights. Our platform is designed to provide essential information and technology, enabling users to make well-informed investment decisions. With advanced charting tools, pro-level analytical features, moomoo evolves alongside our users, fostering a dynamic community where investors can share, learn, and grow together. Founded in the US, moomoo has expanded its global presence to serve investors across multiple markets, including Singapore, Australia, Japan, Canada, Malaysia, and New Zealand. As a subsidiary of a Nasdaq-listed company, moomoo is trusted by more than 26 million investors worldwide and has earned recognition from leading financial institutions and publications for its innovation and reliability. For more information, please visit moomoo's official website at
Cision Canada
18 hours ago
- Business
- Cision Canada
Moomoo's Parent Company Futu Releases Q1 2025 Results
JERSEY CITY, N.J., May 29, 2025 /CNW/ -- Moomoo's parent company Futu Holdings Ltd. ("Futu" or "the Company")(Nasdaq: FUTU), a leading global tech-driven online brokerage and wealth management platform, announced its unaudited Q1 2025 earnings with US$603.4 million in revenues, up 81.1% year-over-year ("YoY"), and US$285 million in non-GAAP adjusted net income, up 97.7% YoY. As of March 31, 2025, the Company reported 26.25 million registered users, 4.96 million brokerage accounts and 2.67 million funded accounts. The client assets grew 12% quarter-over-quarter ("QoQ") and 60% YoY, reaching US$107 billion. Continued Growth Across Markets & Business Segments The Company entered 2025 with a strong quarter, delivering solid growth across all markets. Japan, Canada and Malaysia achieved record highs in new funded accounts, while the US and Australia both logged double-digit QoQ growth in total funded accounts. In Singapore, strong asset inflows from the high-net-worth sector highlighted the Company's increasing appeal to investors with significant capital and complex financial needs. In Hong Kong, a market already highly penetrated, the Company continued to see accelerated client acquisition throughout the quarter, with a double-digit QoQ increase in client assets, and a nearly 20% quarterly rise in daily active users on its app, reinforcing the Company's unrivaled position in the market. In May, the Company announced its entry into New Zealand - the eighth market it serves - marking another successful stride in its expanding global footprint. Trading activities across the Company's platforms remained vigorous in Q1, with total trading volume reaching a record high of US$413.3 billion, up impressively by 140% YoY and 11% QoQ. Hong Kong and US equities soared 227% and 116% YoY, respectively. Cryptocurrency recorded double-digit QoQ growth in both traders and client assets, showing investors' growing appetite for this particular asset. The Company's wealth management continued to expand globally, driven by robust investment demand for safe-haven assets amidst market uncertainties. The total assets under management ("AUM") reached US$17.9 billion at Q1's market closure, a YoY increase of 118%, with AUM in Hong Kong and Singapore growing steadily during Q1, and in Japan and Malaysia increasing notably. The strength in retail investing fueled synergistic growth in the Company's corporate and institutional services, reinforcing its leadership as a comprehensive financial services platform. By the end of Q1, the Company's IPO and IR clients totaled 498. In Malaysia, moomoo was the top platform that amassed the most subscribers for Oriental Kopi IPO. In Hong Kong, the Company recorded new successes in IPO subscriptions, including the achievement of over HK$1 trillion in Mixue IPO. Additionally, the Company achieved steady growth in its Employee Stock Ownership Plan and Trust services, earning a strong reputation among clients. Enhancing Platform Capabilities to Serve Various Investor Needs In Q1, the Company advanced its product roadmap by introducing tailored features to better serve investors with varying needs. To enhance accessibility to the US market, fractional US shares trading was introduced in Japan. To address the growing demand for options trading, the Company introduced tools such as the Options Strategy Builder and Options Probability Analysis, greatly lowering the entry barrier. The Company also broadened its wealth management offerings across multiple markets, including the launch of US dollar money market funds in Japan, and non-money market mutual funds in Malaysia. To deliver a more intuitive and informed investing experience, the Company rolled out the new Insights feature across its platforms, allowing users to imitate expert strategies and get inspirations in new investment opportunities. Furthermore, the Company streamlined the US stock order execution process this quarter, enhancing efficiency and allowing investors to cover full trading time blocks with a single US stock order. Moomoo's innovation and service excellence continued to gain industry recognition in Q1. In Singapore, moomoo clinched four prestigious awards from CME Group, including the top honor of "Influential Broker 2024". In Japan, the renowned research firm Japan Marketing Research Organization, Inc. granted moomoo with four awards, naming it the "No.1 US Stock Investment Platform". In Malaysia, moomoo received the "Technology Excellence Award" from the Asian Business Review magazine, a testament of its leadership in the technological advancement. Deepening Community Connections and Advancing Corporate Social Responsibility In Q1, the Company deepened its commitment to empowering investors by partnering with Seeking Alpha, a leading financial research platform, to deliver pro-level tools and advanced services to all its global users. Recently in the US, moomoo proudly announced a ground-breaking partnership with the New York Mets, a member of the Major League Baseball (MLB), in a multi-year, multi-million-dollar partnership, marking its first high-profile sports sponsorship. This collaboration is set to enhance the sports experience for Mets fans, moomoo customers and New York tri-state area communities through creative initiatives and joint efforts. The Company also continued to expand its community engagement efforts. In the US, moomoo sponsored the Jersey City Marathon, while in Australia, it partnered with local NGOs to support local communities. In Japan, moomoo led initiatives to encourage female participation in investing. These diverse activities demonstrate moomoo's commitment to leveraging its brand influence to foster positive change and build better communities worldwide. About moomoo Moomoo is a leading global investment and trading platform dedicated to empowering investors with user-friendly tools, data, and insights. Our platform is designed to provide essential information and technology, enabling users to make well-informed investment decisions. With advanced charting tools, pro-level analytical features, moomoo evolves alongside our users, fostering a dynamic community where investors can share, learn, and grow together. Founded in the US, moomoo has expanded its global presence to serve investors across multiple markets, including Singapore, Australia, Japan, Canada, Malaysia, and New Zealand. As a subsidiary of a Nasdaq-listed company, moomoo is trusted by more than 26 million investors worldwide and has earned recognition from leading financial institutions and publications for its innovation and reliability.
HKFP
20 hours ago
- Business
- HKFP
Hong Kong's legislature passes bill to increase airport departure tax to HK$200, effective from Oct 1
Hong Kong's airport departure tax will increase to HK$200 starting from October 1, after lawmakers passed a bill on Wednesday to green light the raise. Out of 84 lawmakers who took part in the vote on the Air Passenger Departure Tax (Amendment) Bill 2025, 77 voted in favour. Two lawmakers voted against the bill while five abstained. The increase will see the city's airport departure tax for adults rise from the current HK$120 to HK$200, representing a 67 per cent hike. The tax is built into the cost of flight tickets, and those purchased before October 1 will not be affected. Joseph Chan, the acting secretary for financial services and the treasury, said in the Legislative Council on Wednesday that the tax hike is expected to bring the government an additional revenue of around HK$1.6 billion. He acknowledged that some lawmakers had expressed worry that the increase would weaken the competitiveness of the Hong Kong International Airport, but said the government has already struck a balance between increasing revenue and reducing the impact on passengers. The official added that the airport departure tax has not been increased in 22 years, and that the government believes a raise of HK$80 was affordable. Perry Yiu, a lawmaker for the tourism sector, was one of the two who voted against the bill. He criticised the government for rejecting the industry's proposal for a phased tax increase and halving the raise, adding that the higher tax would negatively affect the economy's recovery. Gary Zhang, a legislator who also voted down the bill, said the government did not provide a scientific analysis into the impact of the tax raise on different groups of passengers, especially those preferring budget airlines. Exemptions expanded Currently, passengers who arrive and depart Hong Kong within the same day are exempted from the airport departure tax. Chan said authorities are planning to extend the exemption to those departing within the next day, meaning those who stay in the city for less than 48 hours would not have to pay the tax, following lawmakers' suggestions. The government also plans to exempt those transiting through the airport after arriving via land or sea ports, a move to attract more passengers from the Greater Bay Area, Chan said. He said the government is drafting relevant subsidiary legislation and will submit it to the legislature 'as soon as possible' to allow the two exemptions to be implemented on October 1. 'I would like to emphasise that the two exemptions… are expected to significantly enhance the competitiveness of the Hong Kong International Airport for transit passengers, and these transit travellers will also drive… the hotel, dining, and retail sectors in Hong Kong,' Chan said in Cantonese.
Business Insider
21 hours ago
- Business
- Business Insider
DBS Sticks to Their Buy Rating for Aluminum of China (ALMMF)
DBS analyst Tina Ting Hu maintained a Buy rating on Aluminum of China (ALMMF – Research Report) today and set a price target of HK$5.50. The company's shares closed last Tuesday at $0.59. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Ting Hu is ranked #8711 out of 9551 analysts. Currently, the analyst consensus on Aluminum of China is a Strong Buy with an average price target of $0.79.
