US Stock Market Move | Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) rose by 3%. Morgan Stanley: Cryptocurrency business expected to bring long-term incremental realization.

On Wednesday, Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) rose by 3% to $176.39. Morgan Stanley previously released a report stating that the company has not seen significant impact on customer acquisitions since ceasing to open accounts for mainland clients. The company's growth will mainly come from overseas markets and cryptocurrency services, the latter of which is expected to bring long-term incremental revenue. The rating of Futu Holdings has been maintained as "hold" with a target price of $210.