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But both are losing ground with Chinese nationals as safety concerns rise among younger travelers. Both countries were the top choices for Chinese holidaymakers earlier this year but fell in the third quarter — Thailand to No. 8 — according to the marketing company China Trading Desk, which gauges Chinese travel sentiment on a quarterly basis. Both countries now lag behind South Korea, Malaysia and Australia in terms of Chinese travelers' next vacation destinations, with Singapore — deemed one of the safest places for travelers in 2023 — rising to the top spot. The World Health Organization and other safety groups have said seafood from Japan is safe to eat, but fears among Chinese travelers have "turned one of their most popular destinations into one of their least popular," Bhatt said.
Persons: Singapore —, Subramania Bhatt, Bhatt, Pia Oberoi, Oberoi, There's Organizations: China Trading, China, World Health Organization, United Nations, United Nations Human Rights, High, Afp, Getty, ASEAN, CNBC Locations: Japan, Thailand, Asia, Korea, Malaysia, Australia, Singapore, Southeast Asia, Thailand —, Cambodia, Laos, Myanmar, Southeast, South Asia, China, Taiwan, America, Pacific, perpetrating, Thu, People's Republic of China
Futu offers services to Chinese citizens who already hold dollars and other currencies in bank accounts abroad. Photo: Budrul Chukrut/Zuma PressTwo Nasdaq-listed online brokerages that cater to clients in China are preparing to further curtail their offerings in the country, amid tightening controls by Beijing on private firms, capital flight and data flows. Futu Holdings and Up Fintech Holding, known as Tiger Brokers, are planning to remove apps from online stores in China that allow their customers to trade stocks overseas, according to people familiar with the matter.
Those returns would come from "great trading opportunities", including placing long and short bets on Chinese equities, said Man Group CEO Luke Ellis, without giving any details. "I think the alpha opportunities in China are very attractive," Ellis told Reuters on Thursday, referring to the potential to generate returns that are higher than market benchmark gains. "We've been able to generate good alpha in the Chinese market. With China gradually opening up its markets to foreign investors, Ellis sees the potential for Man Group to expand its operations in that country when it relaxes its stringent COVID-induced border controls. Man Group launched a Chinese domestic private fund unit in 2017 that currently runs one fund with a macro strategy.
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