FUTU’s 192% Volume Surge Propels It to 134th in Liquidity Despite 11% Price Plunge

On October 10, 2025, Futu (FUTU) traded at 0.97 billion in volume, a 192.44% increase from the previous day’s trading, ranking 134th in market liquidity. The stock closed 11.15% lower despite the surge in transaction activity, indicating divergent investor sentiment between volume and price movements.

Recent trading patterns highlight the stock’s sensitivity to liquidity dynamics. While high-volume days often correlate with price momentum, Futu’s performance suggests short-term positioning shifts or profit-taking activity. Analysts note that volatility in trading volume without proportional price action may reflect market participants testing order book depth or hedging exposure amid broader sector rotations.

To evaluate a “top-500-by-volume” rotation strategy, a daily cross-sectional ranking across the entire equity universe is required, followed by an equal-weighted portfolio rebalancing of the top 500 names. However, current back-testing tools are limited to single-ticker or aggregated index analysis, restricting implementation of universe-wide ranking and multi-asset portfolio handling. Options include approximating the strategy with volume-weighted ETFs like SPHB, simplifying to single-asset volume triggers, or delaying execution until multi-asset capabilities are available. The choice will determine the next steps for empirical validation of the approach.