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China’s Robinhood rivals are set for massive stock market gains on global expansion

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China’s Robinhood rivals are set for massive stock market gains on global expansion

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Traders on the ground of the New York Stock Exchange.

Source: NYSE

BEIJING — Chinese-run stock buying and selling apps are using a surge of global curiosity in day buying and selling, as competitors grows for Robinhood.

Futu and Tiger Brokers, each listed within the U.S., launched a number of years in the past as apps permitting Chinese customers to commerce U.S. or Hong Kong shares. Now each are forecasting a whole bunch of 1000’s of recent customers this yr — principally from exterior China.

From the GameStop stock buying and selling frenzy earlier this yr to digital foreign money alternate Coinbase’s listing Wednesday, people are more and more taken with enjoying capital markets, which are now simply accessible by means of a wide range of cell apps.

Here’s how a lot analysts count on the Chinese gamers on this business to climb.

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