Nasdaq-listed Chinese online broker Futu Holdings Ltd. is aiming to tap a retail investor trading boom in Southeast Asia with Singapore as a home base to expand in the region.

The Tencent Holdings Ltd.-backed company opened an office in Singapore last week, a market seen as a key driver of its international expansion alongside the US, Gavin Chia, director for Futu Singapore Pte. said in a recent interview. It’s currently looking at Malaysia and Thailand to expand, he said.

“More people are working from home and they are trading. In Singapore, all the brokerages are doing well with revenues rising three to five times year-on-year,” Chia said. “That’s where there’s strong demand and not many competitors.”

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