Nigel Chong 庄证评

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FUTU BIG DROP???

Futu, Tiger Brokers, Longbridge —

three offshore brokers, named on the same day.

The charge: unauthorized cross-border brokerage business.

At the pre-market open:

👉 Futu -35%

👉 Tiger -47%

👉 Longbridge crashing right along with them

Painful to even look at.

But don’t rush to panic.

Let’s rewind to 2023.

On December 30th that year,

Futu dropped -31% in a single day.

Same exact reason: CSRC labeling it “illegal cross-border business.”

That time was a ⚠️ warning.

This time, they’re 🔨 actually acting on it.

What’s the difference?

2023: No new account openings, existing accounts still usable, App removed but service continued.

2026: Eight departments joined forces,

a full clearing-out of offshore platforms’ mainland business within two years,

plus retroactive confiscation of “illegal gains.”

This time it’s the zero-tolerance endgame.

❓ So does this news affect you and me?

My view: for us overseas users, the impact is small.

First, we’re not in the line of fire.

Malaysia, Singapore, Hong Kong, the US —

these all run on a different regulatory framework.

Moomoo users in Malaysia carry on as usual.

Second, they stopped doing business in China long ago.

The App was already removed from China’s App Store back in 2023,

and the mainland business has been shrinking ever since.

This looks more like “wrapping up,”

not “declaring war.”

Third, -35% is emotion, not fundamentals.

The market will always overreact once,

and the hit to fundamentals

is far less dramatic than the price swing.

As for Moomoo (Futu’s overseas brand) —

anyone who knows them knows

their consistent style is:

✅ Operating in compliance under each country’s regulators

✅ Actively rolling out new features

✅ Continuously developing new products

Malaysia, Singapore, the US, Australia, Canada, Japan…

licensed and operating in every single market.

In a storm like this,

they’ll likely just focus harder

on getting the experience right for overseas users.

📌 The mistake retail investors make most easily:

See -35%, panic along with it.

But panic won’t make you money.

Seeing clearly will.

Short-term price ≠ long-term fundamentals —

these will always be two different things.

Stay sharp.

Focus on your own setup.

The market is always changing,

but discipline cannot.

🎯 Focus.

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