CIMTUAN@EC2612A

Meituan Shares Remain Under Pressure Intraday Despite Positive Spring Festival Data

Meituan Waimai partners with Mixue Bingcheng to launch a "Birthday Benefit" marketing campaign.

Media analysis suggests the 'limited-time boom' in county-level consumption has ended, raising concerns about Meituan's growth sustainability in lower-tier markets.

Hang Seng Index quarterly review changes effective March 9, Meituan weight capped at 8%

Meituan Report: Shenzhen Cultural Tourism Bookings Increased by 77% During the Spring Festival

HK Stocks Midday Wrap: Hang Seng Tech Index falls over 2%, Meituan drops nearly 5%

Meituan shares pull back over 4% in morning trading with large buy orders recorded.

Meituan and Mixue Bingcheng launch 'Free Order' campaign with first wave starting at 11:00 AM.

Citi Releases Research Report, Cutting Meituan's Target Price to HKD 94

Zhitong Finance releases Southbound Stock Connect capital flow statistics for February 24.

Meituan Releases 2026 Spring Festival Consumption Data, "Must-Eat List" Searches Up 60%

Hong Kong Financial Secretary to deliver the 2026-27 Budget

Integration of Dingdong Maicai's China business and market share shifts become key focus.

Market continues to monitor regulatory rectification regarding 'involution-style' competition.

New 10% US global tariff set to take effect on Tuesday, posing market risks.

Market focus shifts to Meituan's momentum in upcoming HK session and Spring Festival data impact.

Meituan ADRs expected to open higher, tracking HK stock rally and narrowing price disparity.

Southbound Stock Connect capital flow data to be released, market eyes mainland fund flows.

Analyst issues '2026 High Conviction Update', seeing Meituan returning to profit in FY26.

Meituan shares surge ~7% at HK close, leading Hang Seng Tech Index rally.

DAISHOMICROLINE

CHERISH SUN

MOBI DEV

ADD NEW ENERGY

PUTIAN COMM

ELIFE HLDGS

NANFANG COMM

MODERN LAND

DIMMI LIFE HLDG

VICO INTL HLDGS

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09988

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On February 24, 2026, Beijing time, the Hong Kong stock market collectively weakened in the afternoon, with all three major indices adjusting high and falling more than 2%. The Hang Seng Tech Index led the decline, dragged down by a pullback in AI themes. Technology stocks generally fell, with major stocks such as Tencent Holdings, Alibaba, and Meituan showing weak performance. Funds shifted towards defensive stocks and individual stock speculation, with Aito rising sharply against the trend due to positive acquisition news. On the macro level, the market is closely monitoring liquidity and the recovery of local consumption data, with investment sentiment leaning towards caution

- The Hong Kong stock market experienced a significant downturn, with major indices falling over 2% led by the Hang Seng Index which dropped 2.01%.  
- Key sectors such as internet and retail reflected negative sentiment, influenced by a retreat in AI stocks, highlighting a broader market adjustment.  
- Notable individual stock movements included significant increases for certain companies while others like Tencent and Alibaba faced declines amid increased market caution.

Market Heartbeat

TENCENT

KUAISHOU-W

BABA-W

JD-SW

BIDU-SW

MNSO

MEITUAN

HAIDILAO

YUM CHINA

Hong Kong stocks intraday | Hang Seng Index fell 2.3%, Meituan dropped 4.59%, Aide New Energy surged 30.28%

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The short selling amount in the Hong Kong stock market reached HKD 20.91 billion in the half-day session, accounting for 18.8% of the total shortable stock turnover of HKD 111.23 billion. The previous day was 23%. The main shorted stocks include CSOP HS TECH with a short selling ratio of 36.5% and a short selling amount of HKD 1.69 billion; TRACKER FUND with a short selling ratio of 21% and a short selling amount of HKD 1 billion; MEITUAN-W with a short selling ratio of 32.7% and a short selling amount of HKD 980 million; TENCENT with a short selling ratio of 9.7% and a short selling amount of HKD 850 million; and China Ping An with a short selling ratio of 42.2% and a short selling amount of HKD 730 million

AASTOCKS

CSOP HS TECH

TRACKER FUND

The short selling in Hong Kong stocks for half a day reached HKD 20.91 billion, accounting for 18.8% of the total turnover of shortable stocks

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On February 24th, the Hong Kong stock market's midday review showed a collective pullback in the morning session, with the three major indices experiencing a unilateral adjustment. The Hang Seng Index fell by 1.93%, and the Hang Seng TECH Index dropped by 2.36%, leading the market decline. Risk aversion sentiment increased, causing technology heavyweight stocks to weaken across the board, with Meituan -W down 4.76%, leading the blue-chip decline, and Tencent Holdings down 3.44%. The internet, retail, and catering sectors were generally under pressure, but YUM CHINA rose 1.98 against the trend. In terms of individual stocks, KNOWLEDGE ATLAS surged by 20.89%, and KB LAMINATES rose by 11.09, driven by positive earnings expectations. Market focus has shifted to macroeconomic data and liquidity in the capital market

- On February 24, Hong Kong's stock market showed a notable downturn with the Hang Seng Index closing at 26,560.57, down 1.93%. 
- Sector performance was broadly negative, particularly in technology and retail, with major companies like Tencent and Alibaba seeing significant declines amid rising risk aversion and concerns over macroeconomic conditions. 
- Investors are closely monitoring economic indicators such as retail sales and unemployment to gauge the recovery potential of the Hong Kong economy.

KB LAMINATES

KNOWLEDGE ATLAS

GIGADEVICE

Shandong Molong

KINGBOARD HLDG

Meituan

FI2 CSOP HSI

FL2 CSOP HSI

FI CSOP HSI

Hang Seng TECH Index

Hang Seng Index

Hong Kong Stock Midday Review | Hang Seng Index fell 1.93%, KNOWLEDGE ATLAS surged 20.89%, Meituan dropped 4.76%

MPNGY

TCEHY

00HSI

The Hang Seng Index closed at 26,558 points, down 523 points or 1.9%; the Hang Seng Technology Index reported 5,258 points, down 127 points or 2.4%. Major stocks such as Meituan, Ping An, and Tencent all experienced declines, with Meituan down 4.8%, Ping An down 4.2%, and Tencent down 3.4%. Some stocks like WH Group, Hang Lung Properties, Cheung Kong Infrastructure, Sinopharm, and Kwan Hung Laminates reached new highs

Tencent

Tencent Holdings Limited

PING AN

WH GROUP

China Southern Hang Seng ETF

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hang Seng TECH ETF I

ChinaAMC Hang Seng Technology ETF(QDII)

Tianhong Hang Seng TECH ETF(QDII)

ChinaAMC Hang Seng ETF

The Half-Day Report: The Hang Seng Index fell by 523 points; the Hang Seng Technology Index dropped by 127 points. Meituan fell over 4%, Ping An fell over 4%, Tencent fell over 3%. WH Group, Henderson Land, Cheung Kong Infrastructure, Sinopharm, and Kwan Hung International Holdings reached new highs

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Hong Kong stocks once retraced over 500 points, with Meituan, domestic insurance, and pharmaceutical stocks under pressure, while Zhipu and MiniMax rebounded

CPIC

Hong Kong stocks once retraced over 500 points, with Meituan, domestic insurance, and pharmaceutical stocks under pressure, while Zhipu and MiniMax rebounded

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On February 24th, during the Hong Kong stock market, the three major indices collectively weakened, with the Hang Seng Tech Index leading the decline, down 2.26%. The internet and retail sectors were under pressure, and market risk aversion increased, with Tencent Holdings falling 3.16% and Alibaba dropping 2.50%. The communication equipment sector showed mixed performance, with YOFC rising against the trend by 3.84%. In terms of individual stocks, KNOWLEDGE ATLAS surged 13.57% due to the release of its flagship model, while Jiantao's laminated board rose 11.19% on positive earnings expectations. Investors are closely watching Hong Kong's retail and unemployment rate data

- On February 24, Hong Kong stocks experienced a decline as profit-taking pressures emerged after reaching recent highs, with the Hang Seng Index down 1.65% at 26,634.12 points.  
- Notable declines were observed in the tech sector, led by Tencent, Kuaishou, and Meitu, while the retail sector also suffered due to external market influences.  
- Investors are closely monitoring economic indicators such as retail sales and unemployment rates to gauge local consumer recovery, impacting market momentum and liquidity expectations.

MEITU

BYD ELECTRONIC

SHANDONG MOLONG

YOFC

Hong Kong stock market intraday | The Hang Seng Index fell 1.65%, the Tech Index fell 2.26% leading the decline, KNOWLEDGE ATLAS surged 13.57%, YOFC strengthened against the trend

The "2026 Spring Festival Consumption Insight Report" released by Meituan shows that during the Spring Festival holiday, the average person visits 2.2 cities. Popular travel destinations include ten cities such as Beijing, Shanghai, and Chengdu, while Yiwu, Heshan, and Zhangjiagang rank among the top three in county-level tourism popularity

Wallstreetcn

Meituan Travel: During the Spring Festival holiday, the average person checked in at 2.2 cities, with Yiwu ranking first in the county-level tourism heat list

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The short selling amount in the Hong Kong stock market reached HKD 17.26 billion in the first half of the day, accounting for 21.6% of the total shortable stock trading volume of HKD 79.72 billion. The previous day was 29%. Major shorted stocks include: TRACKER FUND with a short selling ratio of 25.8% and a short selling amount of HKD 1.64 billion; CSOP HS TECH with a short selling ratio of 40.8% and a short selling amount of HKD 1.45 billion; MEITUAN-W with a short selling ratio of 37.6% and a short selling amount of HKD 1.35 billion; HSCEI ETF with a short selling ratio of 18.2% and a short selling amount of HKD 820 million; TENCENT with a short selling ratio of 11.4% and a short selling amount of HKD 780 million

HSCEI ETF

The short selling in Hong Kong stocks for half a day was HKD 17.26 billion, accounting for 21.6% of the total turnover of shortable shares

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The Hang Seng Index opened 385 points higher this morning, reaching a maximum increase of 743 points to 27,156 points. It reported 27,017 points at noon, up 604 points or 2.29%. Technology stocks performed strongly, with Alibaba, Tencent, and MEITUAN all seeing significant gains. Gold-related stocks also rose broadly due to the increase in gold prices. However, some AI-related stocks, such as IM Motors, experienced a sharp decline. Analysts believe that Hong Kong stocks are influenced by tariff policies and are expected to test 27,300 points in the short term, but the future market trend still needs to pay attention to the situation of the mainland's reopening

- The Hang Seng Index opened 385 points higher, reaching a peak of 27,156 before falling to 27,017, up 2.29% by noon.  
- Notable blue-chip stocks like Alibaba and Tencent drove the rise, with Alibaba gaining over 3% and Meituan nearly 7%.  
- Analysts expect a potential rebound in technology stocks due to eased valuation pressure and increasing AI application, though concerns about the impact of global tariff adjustments remain.

Stheadline

EFUND GOLD MI-R

SPDR GOLD TRT

EFUND GOLD MI-U

EFUND GOLD MI ETF

The Hang Seng Index rose more than 600 points in half a day, surpassing the 27,000 mark. ATM contributed to the rising market, while Zhipu fell more than 20%｜Hong Kong stock market opens

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NVDA

NVDD

After the U.S. Supreme Court overturned Trump's tariff policy, Trump announced a global 15% tariff increase. The Asia-Pacific stock markets generally rose, with the Taiwan stock market breaking through 34,000 points for the first time, and South Korea's Kospi reaching a historic high. The Hong Kong Hang Seng Index rose back above 27,000 points, up 737 points or 2.8%, led by technology stocks, with MEITUAN rising 7.37%. The market is focused on NVIDIA's upcoming quarterly performance, and chip stocks performed well

Guotai CES Semiconductor Chip Industry ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

NVIDIA

Direxion Daily NVDA Bear 1X ETF

Taiwan and South Korea star stocks all hit new highs, Hong Kong stocks rose over 700 points to regain the 27,000 mark, with technology stocks leading the way as MEITUAN surged 7%, while newly listed AI large model stocks quickly retreated

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The Hang Seng Index's early gains expanded to over 600 points, rising above the 27,000 mark. MEITUAN, SMIC, and Zijin Mining each rose by 5%, while KNOWLEDGE ATLAS plummeted by 15%

SMIC

The Hang Seng Index's early gains expanded to over 600 points, rising above the 27,000 mark. MEITUAN, SMIC, and Zijin Mining each rose by 5%, while KNOWLEDGE ATLAS plummeted by 15%

STECH

The Hong Kong stock market opened higher in the morning, with the Hang Seng Index rising 385 points to 26,798 points, and the National Index and Hang Seng TECH Index increasing by 131 points and 92 points, respectively. E-commerce stocks such as Alibaba and JD opened higher, while technology stocks Tencent, Meituan, and NetEase also saw gains. AI model stock KNOWLEDGE ATLAS opened down 13.8% due to issues. Export stocks such as Creative Technology and SHENZHOU INTL opened higher, and pharmaceutical stocks WUXI BIO and WUXI APPTEC also rose. Commodity prices increased, leading to a general rise in related resource stocks

SHENZHOU INTL

WUXI BIO

Alibaba

WUXI APPTEC

FI2CAMNDQ100

"Hong Kong Stocks" The Hang Seng Index opened high at 385 points, with technology, export, and resource stocks rising, while AI model stocks retraced

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In terms of sectors, leading technology stocks, semiconductors, non-ferrous metals, and new energy vehicle stocks performed well, with Zijin Mining, Meituan, and SMIC rising over 5%; large model concept stocks retreated, with KNOWLEDGE ATLAS falling nearly 23% and MINIMAX dropping over 13%

- On February 23, the Hang Seng Index and the Hang Seng Tech Index experienced strong fluctuations, with the Hang Seng Index rising 2.53% and the Hang Seng Tech Index increasing 3.34%.  
- Notable performers included Zijin Mining, Meituan, and SMIC, each rising over 5%, while stocks like Zhicheng dropped nearly 23% following prior gains.  
- In the gold sector, China Gold International saw a rise of over 6%, and the significant increase in gold prices has reached over 5,100 USD.

ZIJIN MINING

Zijin Mining

iShares Semiconductor ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

VanEck Semiconductor ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

GF Fund CSI Semiconductor Material Equipment Theme ETF

ChinaAMC CSI Semiconductor Material & Equipment Thematic ETF

ICBCCS CNI HK Connect Technology ETF

ChinaAMC Guozheng Semiconductor Chip ETF

SPDR S&P Semicon

Hang Seng TECH surged over 3%, Meituan rose over 5%, while the "dual giants of large models" KNOWLEDGE ATLAS and MINIMAX showed significant pullbacks

AWAY

Meituan Travel released data showing that a wave of travel peaked starting from the second day of the Lunar New Year (18th). From the second to the fifth day (18th to 21st), the number of flight bookings increased by 40% year-on-year. At the same time, a number of culturally rich and uniquely experienced small and medium-sized cities are rapidly gaining popularity. Among them, Chongzuo in Guangxi, Jingdezhen in Jiangxi, Kaifeng in Henan, Xuancheng in Anhui, Putian in Fujian, Tangshan in Hebei, Fangchenggang in Guangxi, Shangrao in Jiangxi, Yibin in Sichuan, and Pu'er in Yunnan have become the cities with the highest growth in tourist attention, highlighting the strong demand for in-depth and localized travel experiences

ETFMG Travel Tech ETF

Meituan Travel: The first wave of travel peak arrives on the second day of the Lunar New Year

Just bought my first Hong Kong stock, Meituan, through Stock Connect.I think Wang Xing is a tough guy who won't be knocked down.Finally got to experience Stock Connect.The overall operation was okay.Still figuring it out.Not investment advice!

MEITUAN-WR

Meituan HK SDR 5to1

Today’s Key News Recap

Feb 6 | Dolphin Research focus: 🐬 Stock 1, $BABA-W(09988.HK) Alibaba's Qwen app launched a 'Spring Festival RMB 3bn free-order' campaign today. The first wave centers on AI one-line prompts to order milk tea for free.Notably, WeChat further blocked today the promo passwords for red-envelope campaigns run by both Alibaba Qwen and Tencent Yuanbao. As a result, those keywords can no longer be copied or recognized in private or group chats.The move aims to protect WeChat's platform ecosystem and curb over-marketing that disrupts user experience. It also helps defend its social-traffic moat...

TENCENT-R

BABA-WR

Amazon

Roblox

LI AUTO-W

Li Auto

DingDong

XPENG-W

XPeng

NIO-SW

NIO Inc. USD OV

NIO Inc

Alibaba HK SDR 5to1

Tencent HK SDR 10to1

Alibaba Qwen's Lunar New Year free-order promo was blocked by WeChat; Nio surged after its first-ever quarterly profit | Daily News Recap

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It is terrible that silver's entire gains are wiped out. Where did the money go to?

Featured

I’m surprised to hear about the threat to $Novo Nordisk AS(NVO.US). I thought their drug would be protected by patents.

Dacai

Amzn down 10% is not a surprise with all other tech companies also falling greatly after announcing more than expected capex for 2026. US traders taking profits before tax season, people panic selling, institutions force selling to drive down the prices are what's causing this dip in the stock market. Eventually, these institutions will also be the ones buying the bottom and driving the rally once more. Investors just sit tight and dca into the stocks they have conviction and wait out.

Grab

NewUser_CkrdqW 

Current rate of return reached top 10% of users
Calculated based on  your Longbridge (Singapore) A/C

Rate Of Return

A sharp contrast between overvalued US tech stocks that we priced for perection Vs Chinese NIO that is beaten down and with lowered expectations.

LazyCat

Dividend Collector

Current rate of return reached top 30% of users
Calculated based on  your Longbridge (Singapore) A/C

Metals &amp; AMZN crash on a wild Friday. A $717M deal and Nio's profit surprise inside. Share your view &amp; earn Task Coins!

Hims & Hers Health

ETFS Capital Ltd.

ING Groep

Spotify

Hasbro

Guess

SPDR Gold Shares

iShares Silver Tr

🔥 Market Snapshot:  Metals Crash, AMZN Plunge & $717M Deal | Feb 6, 2026

CIMTUAN@EC2612A(24121.HK)

Hong Kong stocks intraday | Hang Seng Index fell 2.3%, Meituan dropped 4.59%, Aide New Energy surged 30.28%

The short selling in Hong Kong stocks for half a day reached HKD 20.91 billion, accounting for 18.8% of the total turnover of shortable stocks

Hong Kong Stock Midday Review | Hang Seng Index fell 1.93%, KNOWLEDGE ATLAS surged 20.89%, Meituan dropped 4.76%

Hong Kong stocks once retraced over 500 points, with Meituan, domestic insurance, and pharmaceutical stocks under pressure, while Zhipu and MiniMax rebounded