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JD.com’s delivery clash with Meituan may worsen $70 billion rout

Analysts are cutting price target for both stocks as the two Chinese tech giants battle to steal each other's market share.

Charlotte Yang

“I think a lot of things are not yet priced in,” said Bush Chu, an investment manager at Aberdeen Investments.

Morgan Stanley calls Pop Mart a “global brand in the making.”

The Hang Seng China Enterprises Index has jumped more than 30% over the past month, making it the best performer among more than 90 global equity...