On June 4, Futu Holdings declined 5.09% in pre-market trading, trading at $91.50/share, with trading volume of $7.056 million.

The decline was triggered by the company's announcement that, effective June 12, it will suspend all buy (open position) transactions for stocks and other products as well as fund transfer-in services for investors in mainland China. Sell (close position) orders will remain unaffected. The move is part of the two-year centralized rectification period mandated by Chinese regulators for cross-border securities businesses.

This announcement follows the China Securities Regulatory Commission's approximately RMB 1.85 billion penalty issued on May 22, which caused a single-day plunge exceeding 27%. Futu's Q1 net profit fell 61.2% year-over-year to HK$831 million after fully provisioning for the fine. Peer firms including Tiger Brokers and Aide Securities have issued similar suspension notices, confirming an industry-wide enforcement pattern. As of Q1, mainland China clients accounted for approximately 13% of funded accounts and contributed roughly 20% of total revenue, underscoring the material business impact of these restrictions.

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