On June 2, Southern Hang Seng Tech ETF (03033) rose 3.06% in regular trading, reaching HKD 5.015 per unit, with trading volume of HKD 1.693 billion. The rally tracks a broad-based surge in the Hang Seng Tech Index, which expanded its intraday gain to over 3%.

The primary catalyst was Meituan's Q1 earnings release, which showed revenue of RMB 91.04 billion (up 5.6% YoY) and adjusted net loss of RMB 4.97 billion — significantly better than market expectations of approximately RMB 7 billion. Operating losses narrowed to RMB 6.47 billion from RMB 16.1 billion in the prior quarter. Huatai Securities noted that irrational subsidies are gradually fading, with competition returning to efficiency-driven dynamics favoring Meituan's structural advantages.

Meituan surged over 8% on the day, while Tencent and Alibaba gained over 5%, and Lenovo rose over 5%. The broad improvement in internet platform earnings, combined with ongoing southbound capital inflows and AI commercialization momentum, supported the tech index's recovery after nearly eight months of consecutive adjustment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)