Business & Finance
Trip.com Shares Jump in Hong Kong as Regulatory Overhang Clears
Key Points
Trip.com Shares Jump in Hong Kong as Regulatory Overhang Clears Trip.com Group Ltd. posted its biggest gain in nearly a year after the outcome of its antitrust investigation largely matched expectations, lifting a key overhang on the stock even as the company was hit with a hefty fine. The shares jumped as much as 7.7% in Hong Kong, the most since Aug. 28, as the months-long probe concluded with a fine that some investors viewed as removing a key uncertainty. China’s market regulator imposed...
Trip.com Shares Jump in Hong Kong as Regulatory Overhang Clears
Trip.com Group Ltd. posted its biggest gain in nearly a year after the outcome of its antitrust investigation largely matched expectations, lifting a key overhang on the stock even as the company was hit with a hefty fine.
The shares jumped as much as 7.7% in Hong Kong, the most since Aug. 28, as the months-long probe concluded with a fine that some investors viewed as removing a key uncertainty. China’s market regulator imposed a 5.18 billion yuan ($765 million) penalty after it found that Trip.com had abused its dominant position in the hotel-booking market.