Futu and Tiger Recover Over 14%, S&P Predicts Non-Mainland Business Will Support Growth

Futu Holdings and Tiger Brokers saw a significant rebound in their stock prices on Tuesday, both surging by more than 14%, reversing last Friday's downturn.

From a news perspective, S&P Global Ratings released a report on May 26th indicating that despite the new round of rectification implemented by Chinese regulatory authorities on Futu Holdings' mainland business, the company's overall business flow is expected to remain stable in the next two years, thanks to the continuous robust growth of its non-mainland business.

To reduce the dependence on mainland business, Futu has been pushing forward with business diversification since 2023. As of the end of March 2026, the proportion of mainland clients in the company's total paying clients has significantly dropped from over 30% in 2022 to approximately 13%.

Furthermore, S&P regards Futu's high capital level as an important advantage during its business transformation period. As of the end of 2025, Futu's risk-adjusted capital ratio reached 54.2%. Even in S&P's stress scenario test – assuming a 50% decline in profits over the next year – the ratio is expected to remain far above the regulatory requirement of 15%.