US Stock Market Move | Cross-border securities business rectification collectively landed, UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR.US) increased by over 2% in early trading.

According to the financial news app, on Thursday, UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR.US) rose more than 2% in early trading, while Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) remained flat at one point. On the news front, following Tiger Brokers International and Changqiao Securities, Futu Securities also announced adjustments to the service arrangements for existing clients in mainland China. On June 4th, Futu announced to existing clients in mainland China that in order to implement industry regulatory requirements during a 2-year rectification period and promote the standardized development of cross-border securities business, adjustments will be made to the services provided to existing investors in mainland China. Starting from June 12, 2026, existing investors in mainland China will temporarily suspend buying (opening) trades for all types of securities, including stocks, as well as fund transfer services in mainland China. However, selling (closing) trades, position inquiries, and other functions will not be affected. Futu stated in the announcement that this adjustment will not affect the services provided to existing investors overseas. Morgan Stanley released a research report on June 2, stating that after excluding contributions from mainland clients, it has lowered the profit forecasts and target price for Futu Holdings Ltd. Sponsored ADR Class A. However, it maintains an "Overweight" rating and continues to list Futu as a Top Pick. The target price has been lowered from $225 to $177, calculated based on a reference price of $104.07, representing approximately 70% potential upside.