JD.com, Meituan Shares Plunge as Delivery Competition Heats Up
Shares of Meituan and JD.com Inc. tumbled as competition heated up in the Chinese food delivery space.
JD.com fell as much as 8.1% in Hong Kong on Tuesday, while Meituan shares slumped 7.1% to their lowest in about 7 months. Both stocks were among the worst performers on the Hang Seng Tech Index.
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Tesla signs deal for $556 million grid-scale battery storage station in China
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