Meituan stock jumps 5% after announcing HK$15.6 billion share buyback.

From The Standard: 2024-06-11 15:11:12

Meituan (3690) saw a 5% jump before announcing a HK$15.6 billion share buyback. The Hang Seng Index dropped 190 points to 18,176 after a holiday break. In China, the Shanghai Composite Index fell 0.8%. Orient Overseas (International) (0316) saw a 9.4% drop, while Zijin Mining (2899) sank 4.9%. Samsonite (1910) rose 4.3% due to a US$200 million share buyback. Trading in Dexin China (2019) was halted due to a wind-up order.



Read more at The Standard: Stocks head south as Meituan bucks trend