SHANGHAI/BEIJING, Aug 6 (Reuters) - Online brokerages
Futu Holdings and UP Fintech Holding, known
for helping Chinese investors buy global stocks, have told
clients that night trading of U.S. shares would be suspended on
Tuesday after a surge in global market volatility.
The brokers attributed the move to notices they received
from U.S. service provider Blue Ocean, without giving details.
Blue Ocean gives clients electronic access to trade U.S. stocks
between 8:00 pm and 4:00 am ET (0000-0800 GMT), Sunday to
Thursday, and access to data.
Trading during other hours will not be affected, the
brokerages said. Blue Ocean did not immediately respond to a
request for comment.
Global stocks rallied on Tuesday, reversing some of the rout
triggered the previous day by fears of a U.S. recession and
disappointing results of some tech giants, after central bank
officials moved to soothe investor nerves.
Futu said in a notice to clients that Tuesday's trading
suspension was the result of "prudent consideration" after the
notice from Blue Ocean.
UP Fintech, also known as Tiger Brokers, made a similar
statement, adding that orders placed between 1:45 a.m. and 4:00
a.m. ET (0545-0800 GMT) on Aug. 5 had also been cancelled.
The company said it had dealt with the affected orders
properly and apologized to clients.
The two brokers last year removed their apps in mainland
China after Chinese regulators banned the companies - which do
not have securities licences in China - from soliciting onshore
clients via the Internet.