According to Foresight News, Futu Holdings (FUTU.US) rose more than 5% to $137.32, according to Zhitong Finance. On the news, Morgan Stanley raised Futu's target price to $160. The bank said that Futu completed the upgrade of Hong Kong's No. 1 license in July 2024 and can provide crypto asset trading services to Hong Kong retail investors; Futu's Cheetah officially obtained the VATP license issued by the Hong Kong Securities Regulatory Commission in January 2025. It is expected that by 2027, spot trading will bring in HK$3.4 billion in incremental revenue, and if stablecoins/derivatives are approved, it can add another HK$1.6 billion.