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Chinese fintech tops week’s financial gains, as US lending fintech slides

August 28, 2022
Source: crast.net crast.net
News Snapshot:
allenswart Three of this week’s biggest gainers in financial stocks are Chinese-based fintechs that were helped by a preliminary agreement that allows US officials to audit those companies. Three of the five financial stocks that fell the most this week are tech-based mortgage or lending firms, which stand to lose business as interest rates rise. Futu Holdings (NASDAQ:FUTU) topped the list of financial stocks with a market cap of more than $2B, up 21% for the week, which climbed the most, followed by peer Chinese fintech 360 DigiTech (NASDAQ:QFIN), Which saw an increase of 14%. Both benefited as the US’s...
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