China’s Meituan Anti-Monopoly Fine Less Than Feared, Shares Rebound

China’s Meituan Anti-Monopoly Fine Less Than Feared, Shares Rebound
The logo of food delivery giant Meituan is seen at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China on September 3, 2021.  Florence Lo/REUTERS
Updated:
Shares of China’s food delivery giant Meituan rebounded more than 8 percent on Oct. 11. The company’s financial penalty for violating the anti-monopoly regulations was lower than expected, and less severe than Alibaba’s earlier this year.
Analysts predict that market uncertainty will persist and keep tech sector valuations depressed for several more months.