On last night’s Q1 earnings call, Futu Chairman and CEO Hua Li delivered remarks spanning one page—yet not a single word mentioned the RMB 1.85 billion penalty.
Instead, he spoke about Malaysia’s new IPO subscription window, Japan’s options trading volume doubling, Singapore’s assets growing at an annualized rate exceeding 50% over three years, and progress on securing a prediction market license in the U.S.
That penalty hung like an elephant in the room, silently drawing everyone’s attention. Yet Hua Li pulled out a world map, shifting focus to multiple markets thousands of kilometers away—
There, real-time Korean stock quotes had just gone live, Korean equity trading functionality was set to launch in June, and the Malaysian business was racing toward breakeven.
In the face of controversy, such silence itself was an answer:
Futu has already begun placing its pieces on an entirely different board.
A RMB 34 trillion blue ocean—and Futu has only just left port.
Many concerns about Futu stem from a common assumption: that the Hong Kong and Singapore markets are already saturated.
The data provides an answer that is precisely the opposite.
According to publicly available data from the Securities and Futures Commission of Hong Kong and the Monetary Authority of Singapore, by the end of 2024, the assets under management in wealth management in Hong Kong and Singapore exceeded HK$35 trillion and HK$34 trillion, respectively.
As of Q1 2026, Futu Group’s total client assets stood at HK$1.22 trillion.
HK$34 trillion versus HK$1.22 trillion—this is far from hitting a ceiling; it’s only just left port.
Even in the Hong Kong market, where Futu has operated for over a decade, its penetration rate remains at...

FUD TACO Self delusion

Xiaomi Group-W is currently trading at 31.120 yuan, slightly above the 20-day line at 31.061 and the 10-day line at 30.594, showing initial signs of stabilization in the short term. However, the current price remains below the 30-day line at 31.457 and the upper Bollinger Band at 32.668, indicating that the stock is merely experiencing a slight improvement in a low-level rebound, not yet truly strengthening. To confirm a sustained uptrend, it needs to first stabilize above 31.061, then break through the 31.457 to 32.668 range.
Investor comments reflect mixed market sentiment. On one hand, some believe there is still room for growth, even targeting 35, 40, or 45 yuan, while others think it could rise directly, showing that some funds still believe in Xiaomi's medium-term story. On the other hand, some investors feel the trend is weak, with single-day gains unable to hold, and warn against chasing highs, indicating that confidence in short-term buying has not fully recovered.
Common market questions focus on three points: First, whether the price can stabilize around 31 yuan; second, whether 31.5 yuan is a short-term peak; third, whether mobile and automotive businesses will support a higher valuation. Technically, 31.061 yuan is the short-term inflection point, 31.457 yuan approaches the next resistance zone, and 32.668 yuan represents a more significant breakout level. If it fails to break through 32.668, the target of above 35 yuan remains a more aggressive expectation.
In terms of trading volume, although some investors are paying attention to changes in volume, current technical analysis shows that the latest trading volume bar has contracted compared to earlier, coupled with a small rebound in stock price, suggesting that the rebound momentum is not strong. The Relative Strength Index (RSI) is approximately...

$AAX (5238.MY)$ Yes broken 50k on just 2 months