Alibaba and U.S.-Listed China Stocks Affected by Regulatory Crackdown
Shares of Futu Holdings (FUTU) and UP Fintech Holding (TIGR), along with Alibaba, dropped amid a regulatory crackdown by the China Securities Regulatory Commission on cross-border trading activities. The CSRC accused these firms for operating in mainland China without proper licensing.
Topics: china securities regulatory commission (csrc) cross-border trading stock market unauthorized operations