I'm not expecting anything spectacular from $TIGR tomorrow, fwiw.

If you studied $FUTU's results closely, you should've noticed that the momentum of slowing trading activities, AUM/account growth, and general growth QoQ continued (in fact, $FUTU posted negative QoQ figures regarding a bunch of metrics).

Of course, the companies will try to shift the focus to YoY figures (which are quite impressive), and they might deliberately leave out QoQ figures where it suits their narrative, but it's your job as an investor to check these developments too.

I don't think these quarterly fluctuations are a big deal to the long-term thesis, though. They are inevitable for most businesses, and even more so for businesses that have exposure to cyclical factors (such as brokerage businesses). Of course, the market cares about these short-term swings, though. It's important to understand this.

What I'll pay closest attention to is $TIGR specifying the impact of the recent Chinese regulatory actions. We already know that the impact is presumably less bad relative to Futu (Tiger referred to 10% of assets being attributable to mainland China investors vs. 17% at Futu, generating 20% of revenue).

Do they expect any impact on their Singapore business? How much of the total asset base do Singaporean accounts represent? My understanding is that as of last year (Q1), Singapore's retail base represented 50% of funded accounts.

Any other international markets they plan to enter? They're not operating in Malaysia yet, are they? That'd seem like a natural extension of their Singapore business?