Movement Alert｜Meituan-W Falls 3.38% in Regular Trading, Internet Sector Broadly Declines as BlackRock Continues to Reduce Holdings

Market Focus10:11

On July 17, Meituan-W declined 3.38% in regular trading, trading at 84.0 HKD/share, with turnover of 1.913 billion HKD. The stock had previously accumulated over 20% gains within the month.

The broader Internet and Direct Marketing Retail sector came under selling pressure. Among sector peers, Ali Health fell 2.88%, JD Health dropped 4.29%, Ping An Good Doctor declined 3.47%, and Alibaba-W lost 2.14%. On the institutional front, HKEX filings show BlackRock consecutively reduced its long position in Meituan H shares, with its stake falling from 6.26% to 5.94% on July 7, and from 6.31% to 5.86% on July 9. Additionally, the company announced on July 15 the grant of approximately 13.51 million restricted share units under its post-IPO share award plan, introducing near-term dilution expectations. The combination of sector-wide weakness, notable foreign institutional selling, and equity dilution concerns collectively weighed on the stock following its sharp monthly rally.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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