Meituan’s disappointing earnings weigh on on-demand delivery rivals Alibaba and JD.com
Hong Kong stocks fell on Thursday as the price wars in the food delivery and electric vehicle (EV) sectors and AI chipmaker Nvidia’s downbeat outlook weighed on sentiment.
The Hang Seng Index dropped 1.1 per cent to 24,929.18 at 9.58am local time, on course for a third day of loss. The Hang Seng Tech Index also lost 1.1 per cent. On the mainland, the CSI 300 Index rose 0.1 per cent, while the Shanghai Composite Index retreated 0.1 per cent.
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