Travel platform stocks under pressure, Trip.com down over 5%, Meituan hits nearly two-year low

The night before (3rd), the three major U.S. stock indices were weak, and the U.S. military shot down an Iranian drone. Foreign media reported that the U.S. and Iran will negotiate in Oman this Friday (6th). Precious metals performed well, with spot gold rising back above $5,000, currently reported at $5,049 per ounce, up nearly 2.1%. The Hong Kong stock market opened lower this morning (4th), with the Hang Seng Index opening down 37 points, then briefly rising 64 points to a high of 26,899 points, before falling again. It is currently reported at 26,676 points, down 158 points or nearly 0.6%, with a turnover of HKD 119.278 billion.

Travel platform-related stocks were under pressure this morning. Ctrip-S (09961.HK), which was previously involved in an antitrust investigation in mainland China, opened down 1.7% this morning (4th) and saw its losses widen, hitting a low of HKD 456.8. It is currently reported at HKD 458.2, down 5.49%, with a turnover of 3.0763 million shares, involving HKD 1.429 billion. Competitor Tongcheng Travel (00780.HK) is currently reported at HKD 23.18, down 1.95%, with a turnover of HKD 61.1371 million.

Meituan-W (03690.HK), which is involved in travel booking services, hit a low of HKD 91 during the session, falling below its 52-week low and reaching its lowest point in nearly two years since the end of March 2024. It is currently reported at HKD 91.2, down 2.15%, with a turnover of HKD 1.45 billion.

The parent company of the Fliggy travel platform, Alibaba-W (09988.HK), is currently reported at HKD 158.2, down 1.74%, with a turnover of HKD 3.938 billion