US Stock Market Move | UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR.US) dropped more than 5% and will temporarily suspend new account opening and expanding positions for domestic customers.

On Tuesday, UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR.US) opened down more than 5%, and Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) dropped more than 2%. In terms of news, on June 2nd, Tiger International released a notice regarding the compliance adjustment for existing investors in China. In order to implement the industry regulatory requirements for the 2-year concentrated rectification period and promote the standardized development of cross-border securities business, Tiger International will make corresponding adjustments to the services for existing investors' accounts in China. The adjustments will be made starting from June 12, 2026: 1. In onshore trading services: new opening and increasing trading of all types of stocks will be suspended, only supporting sell and close operations; 2. In onshore fund transfer services: fund transfers will be suspended, with the function of transferring out remaining normal, to fully ensure the safety of your funds. In addition, regarding when the 2-year concentrated rectification action for existing business will begin, on the evening of June 2nd, Futu customer service's latest response stated: "This is an industry guidance issued by the regulatory authorities in mainland China for overseas Financial Institutions, Inc., and Futu is actively following up to implement the relevant requirements. We will notify you through official channels as soon as the final arrangements are confirmed, please pay attention to the app announcements."