Meituan Stock News

Three of Chinas most valuable businesses Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Meituan have shed more than $100 billion in the span of three turbulent days. Its a remarkable reversal from just a week ago, as investors like Charlie Munger spotted bargains among China Tech Inc. after a $1.5 trillion selloff in 2021. Macquarie issued a report this month headlined peak crackdown.

BEIJING: Shares in Alibaba slumped more than five percent on Tuesday following a report that Beijing regulators had ordered a fresh investigation into state firms'' links with the Chinese e-commerce giant''s fintech arm Ant Group. China''s biggest state-owned firms and banks were told to begin a new round of checks on their financial exposure and other links to Ant and its subsidiaries, Bloomberg reported, in another blow to the beleaguered company and Alibaba''s billionaire co-founder Jack Ma. Since late 2020, Chinese regulators have launched a wide-ranging crackdown on alleged anti-competitive practices by Alibaba and other domestic tech giants, which saw a record-breaking planned IPO by Ant Group pulled at the last minute. US adds e-commerce sites operated by Tencent, Alibaba to ''notorious markets'' list Bloomberg described the fresh investigation as "by far the most thorough and wide-ranging look into deals with Ant", citing anonymous sources familiar with the matter. It is unclear what triggered the fresh scrutiny, the report said.

Shares in Alibaba, Tencent, Meituan and other tech firms dropped as the Hang Seng Tech Index is set for its lowest close since July 2020.

Chinese Tech Stocks Suffer Biggest 2-Day Rout Since July Amid Fears Beijing Will Unleash More Crackdowns While not directly impacted by the sharp crisis escalation in Ukraine or fears of multiple rate hikes by the Fed, Chinese tech shares suffered their worst two-day drop since July following renewed fears Beijing may roll out more restrictions for private enterprise. Shares of China''s tech giant, Tencent, sank 5.2% on Monday, hammered by speculation about an unspecified, impending crackdown on Chinas largest social media and gaming firm that company spokesman Zhang Jun later denied. Traders pointed to everything from warnings from regulators over the weekend about scams in the metaverse to talk about yet more curbs on the gaming industry. Zhang said the online rumors were unfounded, without elaborating. Amid the rout, Tencents head of public relations Zhang Jun denied online speculation that its facing a major regulatory crackdown, issuing an unusually aggressive public response after fears of more tech-sector restrictions tanked markets on Monday.

Meituan, the Chinese food delivery company, lost $26 billion in value as of Friday after regulators wanted to lower fees food platforms are charging restaurants, Financial Times says. The crackdown co

Meituan (OTC: MPNGY) shares shed ~15% after China issued new guidelines asking food delivery platforms to cut restaurant fees to reduce business costs, Bloomberg reports. Online food delivery platfo

Online food delivery group Meituan led a rout of Chinese technology company shares on Friday, as authorities announced a series of regulatory moves to boost growth while keeping financial risks under

Futures Reverse Overnight Gains As Amazon Euphoria Fizzles We warned last night that the surge in futures following the huge bounce in Amazon stock wouldn''t last (simply because a closer read of the company''s earnings left a lot to be desired) and sure enough, in the overnight (extremely illiquid) session, 500 futures erased gains of as much as 1.3% to trade 0.1% lower, or 10 points, to 4,460 as European stocks extend their decline as inflation and monetary tightening outweighed earnings optimism. Meanwhile, Nasdaq 100 futures pared much of their gains, trading just 0.5% higher after earlier rising more than 2%, one day after the index had the worst day since September 2020. The VIX increased for a third day Friday, hovering just below 26. The dollar dropped as the EUR surge continued, following yesterday''s unexpectedly hawkish comments from Lagarde ... while oil was on course for a seventh weekly advance with Brent rising Relief, as brief as it was, was welcome after a 4.2% crash in the Nasdaq 100 Index on Thursday, its biggest since 2020, fueled by a 26% rout in Meta Platforms following disappointing results.

Meituan users can use the digital yuan CBDC to pay for their cabs, hotel bookings, and restaurants.

China''s tech giants Alibaba, Tencent, Baidu and Meituan have all started investing heavily into chip development.

Starbucks Corporation (SBUX) expanded its delivery and online services in China through a new partnership with Meituan that will give customers more options, including social features

The partnership with Meituan comes as Starbucks faces increasing competition from well-funded domestic tea and coffee chains in China such as HeyTea and Manner.

The partnership with Meituan comes as Starbucks faces increasing competition from well-funded domestic tea and coffee chains in China such as HeyTea and Manner.

Starbucks is joining forces with Chinese tech giant Meituan to expand delivery options in its second biggest market.