Hong Kong stocks Meituan-W short-term surge, up more than 3%

Hong Kong-listed Meituan-W short-term rise by more than 3%, closing at HK$89.7. On the news front, Citigroup has upgraded its rating on Meituan's Hong Kong shares to "buy" and raised its target price from HK$94 to HK$110. The bank pointed out that thanks to the strategic focus on high average order value and high-quality users, the unit economic benefits of Meituan's food delivery business are expected to achieve significant improvement quarter-on-quarter in the fourth quarter of 2025 and are further expected to improve in the first quarter of 2026.