Shares of Meituan, Alibaba Group Holding Limited, JD.Com Inc., Baidu Inc, Tencent Holdings, and BYDCo are all trading higher in Hong Kong on Monday.
What Happened: Shares of food delivery giant Meituan are trading 8.75% higher at HKD 278.40 after China fined the company $530 million for antitrust violations on Friday, the second such regulatory fine so far this year.
Chinese e-commerce giant Alibaba’s shares traded almost 8.81% higher at HKD 169.20 in Hong Kong, while e-commerce company JD.Com’s shares are up 4.93% to HKD 310.80 and Baidu shares are up 5.8% at HKD 161.80.
BYD shares were up 5.82% at HKD 257.60 on Monday.