** Shares of Chinese food delivery giant Meituan rise as much as 6.3% to HK$282, their biggest intraday jump since April 1, set to snap two consecutive sessions of decline
** Stock biggest percentage gainer in both the benchmark Hang Seng Index and Hang Seng Tech Index
** Tencent-backed Meituan said on Friday revenue rose 120.9% YoY in March qtr to 37.02 bln yuan ($5.82 bln), beating an average estimate of 35.16 bln yuan of 13 analysts polled by Refinitiv
** Beijing-based co, however, reported a second consecutive quarterly loss, weighed down by its expansion into the community group-buying business that relies heavily on subsidies
** Citi maintains "buy" on the stock saying Meituan's Q1 overall result was stronger than expected, thanks to solid and effective execution and business activities recovery
** Jefferies maintains "buy" on Meituan as the firm reported a solid set of results ahead expectations with better than expected performance across segments due to strong execution
** The Hang Seng Tech Index climbs 0.6% and the benchmark index slips 0.5%
** Stock down 10% this year as of last close
($1 = 6.3652 Chinese yuan renminbi)
((Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net))