{"id":182036,"date":"2025-08-28T09:09:10","date_gmt":"2025-08-28T09:09:10","guid":{"rendered":"https:\/\/www.europesays.com\/us\/182036\/"},"modified":"2025-08-28T09:09:10","modified_gmt":"2025-08-28T09:09:10","slug":"hong-kong-stocks-fall-for-a-third-day-hurt-by-meituan-profit-slump-nvidia-outlook","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/182036\/","title":{"rendered":"Hong Kong stocks fall for a third day, hurt by Meituan profit slump, Nvidia outlook"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Hong Kong stocks fell on Thursday as the price wars in the food delivery and electric vehicle (EV) sectors and AI chipmaker Nvidia\u2019s downbeat outlook weighed on sentiment.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The Hang Seng Index closed 0.8 per cent lower at 24,998.82, marking a third day of loss. The Hang Seng Tech Index shed 0.9 per cent. On the mainland, the CSI 300 Index gained 1.8 per cent, while the Shanghai Composite Index rose 1.1 per cent.<\/p>\n<p>Chinese on-demand services giant <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/topics\/meituan?module=inline&amp;pgtype=article?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">Meituan<\/a> tumbled 12.6 per cent to HK$101.70 after reporting worse-than-expected quarterly earnings. Its competitors in the delivery segment, Alibaba Group Holding sank 4.7 per cent to HK$115.80 and JD.com declined 5 per cent to HK$115.20.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Meituan warned of third-quarter losses after its second-quarter profit was wiped out due to \u201cirrational competition\u201d with Alibaba and JD.com. Its net profit plunged nearly 97 per cent to 365.3 million yuan (US$51.1 million) from 11.4 billion yuan a year earlier despite a 12 per cent increase in revenue.<\/p>\n<p><img decoding=\"async\" alt=\"Meituan\u2019s earnings have hit the share prices of rivals Alibaba and JD.com. Photo: CFOTO\/Future Publishing via Getty Images\" data-qa=\"BaseImage-handleRenderImage-StyledImage\" class=\"e1gf69pb2 css-6ikqhs e445x7d0\" loading=\"lazy\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/08\/fb9d4e29-5871-4cb3-82db-b06b2eef36ca_5c60d7de.jpg\" title=\"Meituan\u2019s earnings have hit the share prices of rivals Alibaba and JD.com. Photo: CFOTO\/Future Publishing via Getty Images\"\/>Meituan\u2019s earnings have hit the share prices of rivals Alibaba and JD.com. Photo: CFOTO\/Future Publishing via Getty Images<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cAlthough Meituan\u2019s management intends to avoid competition, the company has inevitably resorted to price cuts to boost market share, ultimately impacting the industry ecosystem and dampening investor sentiment,\u201d said Dickie Wong, executive director of research at Kingston Securities.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The fierce competition in the on-demand delivery services sector is also playing out among the mainland\u2019s top EV makers, who are grappling with overcapacity and weak consumer sentiment.<\/p>\n","protected":false},"excerpt":{"rendered":"Hong Kong stocks fell on Thursday as the price wars in the food delivery and electric vehicle (EV)&hellip;\n","protected":false},"author":3,"featured_media":182037,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[2017,13214,4740,9710,64,21767,74,22165,76124,7994,8464,102585,102584,135,54907,1671,67,132,68],"class_list":{"0":"post-182036","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-alibaba-group-holding","9":"tag-asia-pacific","10":"tag-australia","11":"tag-beijing","12":"tag-business","13":"tag-byd","14":"tag-china","15":"tag-chinese","16":"tag-evs","17":"tag-hang-seng-index","18":"tag-hong-kong","19":"tag-jd-com","20":"tag-jiaxin-international-resources-investment","21":"tag-markets","22":"tag-meituan","23":"tag-nvidia","24":"tag-united-states","25":"tag-unitedstates","26":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115105612712505706","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/182036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=182036"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/182036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/182037"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=182036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=182036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=182036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}