Northbound funds increased their holdings of Tencent by more than HKD 500 million, against the trend, while Southbound funds sold more than CNY 800 million worth of Moutai shares.
Track the latest trends of north-south directional funds.
Express News | Meituan Bought Back 4.6 Mln B Shares for HK$495 Mln on July 25 - HKEX Filing
Meituan-W (03690.HK) spent HK$0.495 billion to repurchase 4.6 million shares on July 25
Glonghui July 25 | Meituan-W (03690.HK) announced that it would spend HK$0.495 billion to repurchase 4.6 million shares on July 25.
Meituan (03690) fell 5.65% in the Hong Kong stock connect. UBS Group believes that the weak macro economy will damage Meituan's core business.
金吾财讯 | Meituan (03690) stock price is under pressure and down, as of the time of publication, it is HKD 106.9, down 5.65%, with a trading volume of 3.594 billion HKD. UBS believes that although the weakness of the domestic macro economy may harm Meituan's core business, including the growth of takeaway orders, average selling price, and gross transaction value (GTV), a better business competition environment should bring high elasticity and visible future profit potential to Meituan. This is due to the growth of GTV (regaining market share from Douyin), accelerated revenue, and recovery of operating gross margin (31% in Q1 2024, 46% in 2022).
The Zephirin Group Adjusts Meituan's Price Target to HK$112 From HK$120, Keeps at Buy, High Risk
Meituan spent 0.799 billion Hong Kong dollars to repurchase 7 million shares on July 24.
Meituan-W (03690) issued an announcement, stating that the company will spend 0.799 billion HKD to repurchase 7 million shares on July 24, 2024, at a repurchase price of HKD 111.5-115.6 per share.
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