What’s going on with China-based Fintech stocks? – UP Fintech Holding (NASDAQ: TIGR)

UP Fintech Holding Limited TIGR stocks trade higher on Wednesday as U.S.-traded Chinese stocks move on continued strength after recent stimulus measures.

The details:

China announced a series of stimulus measures over the past week, including lower interest rates, additional liquidity for its banking system and easing restrictions on purchasing real estate. In addition, China’s central bank will establish a swap mechanism that would give non-bank financial institutions access to at least $71 billion in financing to buy stocks, aiming to stabilize China’s stock market.

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Up Fintech is an online brokerage that allows Chinese investors to trade stocks and other financial instruments on multiple exchanges. The company could benefit from a capital increase in the markets resulting from China’s intensive recovery plan.

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Up Fintech shares have gained nearly 100% over the past five sessions and are climbing on heavy trading volume on Wednesday. According to data from BenzingaProMore than 38 million shares traded hands during the session, compared to the 100-day average of 1.595 million shares.

TIGR Price Action: According to BenzingaProUp Fintech Holding shares are up 30.5% at $8.13 at press time Wednesday.

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Image: Courtesy of Up Fintech Holding, Ltd.