China's Meituan rises on entering Brazilian market with Keeta

CGN Power

14/05/2025 04:49

** Shares of Chinese delivery giant Meituan 3690.HK rise 3.1% to HK$141.6, on course for their biggest one-day pct gain since May 6

** Stock is the fourth most actively traded share by turnover

** Meituan announced an investment of 5 billion reais ($891.65 million) to enter the Brazilian market with its Keeta app, according to government trade and investment agency ApexBrasil

** CGN Power 003816.SZ also detailed plans to spend 3 billion reais on a wind, solar and energy storage hub, Great Wall Motor 601633.SS is preparing to invest 6 billion reais in Brazilian car factories, Longsys 301308.SZ announced an investment of 650 million reais to expand its capacity in Brazil

** CGN gains 0.3%, Great Wall Motor adds 0.6%, Longsys up as much as 1.8%

** Hang Seng Commerce & Industry Index .HSNC rises 1.5%, Hang Seng Index .HSI climbs 1.4%

** YTD, Meituan shares down 8.6%

($1 = 5.6076 reais)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))