HK-listed good giant Meituan at 7-month low on consumer rights concerns
Reuters2021-05-11
** Shares of China's food delivery giant Meituan fall as much as 7.2% to HK$244, their lowest since Oct 5, on course for a tenth straight session of losses
** Stock is second-most actively traded shares by turnover; the second-biggest percentage decliner in the benchmark Hang Seng Index
** The Shanghai Consumer Council summoned Meituan and Pinduoduo on Monday, regarding problems in their protection of consumer rights, urging them to better protect the legitimate rights and interests of consumers
** The Hang Seng Tech Index falls 4.2%, and the benchmark index drops 2.1%
** As of last close, stock down 10.8% this year.
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