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The Tencent Holdings Ltd.-backed company opened an office in Singapore last week, a market seen as a key driver of its international expansion alongside the U.S., Gavin Chia, director for Futu Singapore Pte. said in a recent interview. It’s currently looking at Malaysia and Thailand to expand, he said. “More people are working from home and they are trading. In Singapore, all the brokerages are doing well with revenues rising three to five times year-on-year,” Chia said. “That’s where there’s strong demand and not many competitors.” Online brokers like Futu, China’s version of the U.S. favorite Robinhood, have profited from the retail mania that grew from the pandemic. Bored, stuck-at-home individuals found solace in low-commission trading apps, even using them to challenge institutional investors. Futu shares have more than tripled this year after soaring 343% in 2020, amplifying founder Leaf Hua Li’s fortunes.

Hong kongGavin chiaInteractive brokers group incTd ameritradeCharles schwabTesla incTencent holdings ltdFutu singaporeSoutheast asianInteractive brokers groupஹாங் காங்கவின் சியாஊடாடும் தரகர்கள் குழு இன்க்ட் அமெரிற்றதேசார்லஸ் ஸ்க்வாப்டெஸ்லா இன்க்