Futu Holdings surged over 9% at the start of trading and is dubbed as the Asian version of "Robinhood + Coinbase + Charles Schwab".

Futu Holdings rose more than 9% at the opening of trading to $164.26, reaching a new high since July 2021. In terms of news, on July 17, Barclays Bank stated in its research report that Futu, as a leading online brokerage in Asia, is a combination of Robinhood and Coinbase with elements of wealth management from Fidelity or Charles Schwab. Barclays believes that Futu is seizing the opportunity for the recovery of Asian capital markets with strong customer growth, asset management scale, and revenue expansion. They expect accelerated growth in the coming years and find it attractive to investors seeking exposure to emerging market technology stocks.