HONG KONG: Hong Kong shares finished up on Wednesday as Meituan and AIA jumped. The food delivery giant Meituan rebounded after falling for five straight sessions ahead of its earnings on Friday.
The Hang Seng index rose 0.1%, to 24,685.50, while the China Enterprises Index lost 0.4%, to 8,794.82 points.
Meituan jumped 3% after dropping more than 10% in previous five sessions on concerns over its earnings results, making it the biggest percentage gainer on the Hang Seng Index.
“We are positive on Meituan’s outlook as most of the negatives from policy and weather/COVID fronts are likely to be behind us,” said TH Data Capital in a note.
Insurance firm AIA Group rose 2.6%, the index heavyweight dragged the Hang Seng Index down more than 50 points.
The Hang Seng Tech Index declined 0.5% on lingering worries over the sector’s poor earnings and the regulatory uncertainty.
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