Why Futu Holdings Stock Is Trading Higher

Futu Holdings Ltd FUTU shares are trading higher by 5.79% to $42.04 going into the close of Monday's session. Shares of several Chinese stocks are trading higher ahead of U.S. Treasury Secretary Janet Yellen's upcoming China visit.

What Else?

U.S. Treasury Secretary Janet Yellen is set to visit Beijing this week for a meeting with senior Chinese officials, CNBC reports.

In an April speech, Yellen outlined three economic priorities for the U.S.-China relationship: securing national security interests, fostering mutually beneficial growth and cooperating on global challenges like climate change and debt distress. These objectives will be underscored during her visit.

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Chinese state broadcaster CCTV confirmed that Yellen will be visiting from July 6-9. This visit follows closely on the heels of Secretary of State Antony Blinken’s meeting with China’s President Xi Jinping in Beijing.

According to data from Benzinga Pro, FUTU has a 52-week high of $72.20 and a 52-week low of $28.00.