Stock Track | Meituan-W Shares Tumble Amid Broad Tech Sell-Off

Stock Track07-25

Shares of Meituan-W (03690) plunged 5.65% on Thursday, caught in the midst of a global sell-off in technology stocks. The decline came as investors reacted to disappointing earnings results from tech giants like Alphabet and Tesla, prompting a widespread unwinding of positions in the artificial intelligence (AI) and technology sectors.

The Hang Seng Index, Hong Kong's benchmark, fell 1.5% to 17,045.24 as of mid-morning trading, with the Hang Seng Tech Index dropping 1.6%. Meituan-W, a prominent player in the technology and e-commerce space, was among the hardest hit, sliding 4.85% to HK$107.80.

The sell-off extended beyond Hong Kong, with major markets across Asia also experiencing declines. Japan's Nikkei 225 led the losses, dropping 3.1%, while South Korea's Kospi retreated 1.9%, and Australia's S&P/ASX 200 lost 1.1%.

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