Tencent-Backed Broker Chases Growth Abroad Amid China Crackdown

Futu is expanding its research and development team to offset weaker growth

(Bloomberg) — Online brokerage Futu Holdings Ltd. plans to push deeper overseas to diversify its growth as China’s crackdown on private enterprise catches up with internet trading businesses.

The Tencent Holdings Ltd.-backed company — which operates like Robinhood Markets Inc. in the U.S. —is also considering alternatives in case it gets kicked off the Nasdaq in New York.

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