MBTCTRA@EC2605A(20757.HK)

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MBTCTRA@EC2605A
20757.HK
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Citi: Short to medium-term agency-style AI has little impact on the industry, maintains "Buy" rating for Trip.com and TONGCHENGTRAVEL

Citigroup released a research report indicating that the stock price adjustments of Trip.com and TONGCHENGTRAVEL are partly due to investors' concerns about agent-based artificial intelligence (AI). The report believes that in the short to medium term, AI will have little impact on the online travel industry, as leading platforms have strong bargaining power and can offer better prices. Nevertheless, online travel platforms may collaborate with large language model applications to maintain their market position. Citigroup maintains a "Buy" rating on Trip.com and TONGCHENGTRAVEL, with target prices of $82 and HKD 28, respectively

AASTOCKS·
US
TCOM
-5.11%
US
AWAY
-0.27%
HK
09961
-0.53%
AASTOCKS·
US
TCOM
-5.11%
US
AWAY
-0.27%
HK
09961
-0.53%

TONGCHENGTRAVEL: Travel AI-related inquiries during the Spring Festival have doubled, and the number of first-time flight users has increased by over 30% year-on-year

TONGCHENGTRAVEL released the "2026 Spring Festival Travel Trend Report," predicting that the 2026 Spring Festival travel season will start on February 2 and end on March 13. The report shows that domestic flight ticket prices will slightly increase during the Spring Festival travel period, with popular departure cities including Guangzhou, Chongqing, and Beijing. The demand for multiple trips by civil aviation and railways has significantly increased, with first-time users expected to grow by more than 30%. The application of travel AI will also become a major highlight of the Spring Festival travel season, with related inquiries increasing by over 100%

AASTOCKS·
HK
00780
+2.06%
SH
600593
+1.44%
AASTOCKS·
HK
00780
+2.06%
SH
600593
+1.44%

Top 10 HK Stock Losers (1.15)

TRIP.COM-S(09961) fell 19.23%, with a trading turnover 15.8 Billion HKD, and a year-to-date fell 17%. AFFLUENT FDN(01757) fell 17.15%, with a trading turnover 42.9 Million HKD, and a year-to-date rose 87.3%. IVD MEDICAL(01931) fell 12.8%, with a trading turnover 19.9 Million HKD, and a year-to-date fell 16.8%.

Top Gainers & Losers·
HK
09961
-0.53%
HK
01757
+5.40%
HK
01931
-1.54%
Top Gainers & Losers·
HK
09961
-0.53%
HK
01757
+5.40%
HK
01931
-1.54%

Hong Kong stocks close | The Hang Seng TECH Index's decline widened to 1.35%, Trip.com Group plummeted 19.23%, the technology sector was generally under pressure, while the semiconductor sector strengthened against the trend

The Hong Kong stock market closed today with the three major indices generally weakening. The Hang Seng Index and the Hang Seng TECH Index both slightly retreated from the previous trading day's highs, indicating a cautious market sentiment. The technology, retail, and hotel tourism sectors were under overall pressure, with Alibaba down 2.60%, Tencent Holdings down 1.74%, and Trip.com plunging 19.23%. Meanwhile, Dongyao Pharmaceutical's stock price surged against the trend due to a takeover bid, attracting significant investor attention. Overall, the market is facing a dual impact of earnings expectations and risk aversion, with significant short-term divergences and capital flowing towards structural hotspots

Market Heartbeat·
HK
00780
+2.06%
Market Heartbeat·
HK
00780
+2.06%

Hong Kong Stock Midday Review | Three Major Indices All Decline, Travel and Tourism Star Leader Trip.com Plummets 19.65%, Technology Sector Also Under Pressure

As of noon, all three major indices of the Hong Kong stock market have retreated, with the Hang Seng Index down 0.55%, and the Hang Seng Tech Index falling by 1.83%, showing increased divergence among sectors. The retail and internet content sectors continue to be weak, while there is significant divergence in the hotel and cultural tourism sectors, with core leaders such as Trip.com and Alibaba experiencing substantial declines. Funds are focusing on the declining sectors and related leading stocks, while macroeconomic uncertainties are increasing market volatility, leading investors to pay close attention to policy trends and industry fundamentals

Market Heartbeat·
HK
09961
-0.53%
HK
00780
+2.06%
HK
00241
-0.64%
Market Heartbeat·
HK
09961
-0.53%
HK
00780
+2.06%
HK
00241
-0.64%
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