TechFlow news, July 9 — According to Zhitong Caijing, Futu Holdings (FUTU.US) rose over 5% to $137.32. On the news front, Morgan Stanley raised its price target for Futu to $160, noting that Futu completed the upgrade of its Hong Kong Type 1 license in July 2024, enabling it to offer cryptocurrency trading services to retail investors in Hong Kong; and that Futu's subsidiary Leopard officially obtained the SFC-issued VATP license in January 2025. The firm expects spot trading to generate HK$3.4 billion in incremental revenue by 2027, with an additional HK$1.6 billion if stablecoins/derivatives are approved.
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