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Ban on illegal cross-border stock trading; Hong Kong impact expected to be manageable; asset scale approximately 250 billion; liquidation over two years to ease selling pressure
May 26, 2026
Crack down on illegal cross-border stock trading; Hong Kong impact expected to be controllable
Asset scale of approximately 250 billion; to clear out within two years to ease selling pressure
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The China Securities Regulatory Commission moved last Friday to crack down on illegal cross-border stock trading, with the aim of “comprehensively banning” illegal cross-border operations of overseas securities and futures fund management institutions within two years, and imposing penalties on internet brokerages such as Futu and Tiger. CITIC Securities estimates that the asset scale expected to be affected by the latest round of rectification is around 200 billion to 250 billion yuan (RMB) — and, considering the diversification of asset types and the two-year “clearing-out” pace, the short-term impact on liquidity in the Hong Kong stock market is expected to be controllable. CITIC Securities says this is based on Futu ...
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