Chinese stocks have sold off en masse since the Spring, but is now the time for aggressive investors to go bargain-hunting in the Middle Kingdom?
One indication could be the recent case of Meituan (OTC: MPNGF) , the largest food delivery company in China, with businesses in daily deals, hotel bookings, community e-commerce, restaurant software, and grocery and drugstore delivery.
On Oct. 8, China's State Administration for Market Regulation imposed a $534 million fine on Meituan -- a penalty for abusing its dominant market share in food delivery to force restaurants into exclusivity arrangements. Sound familiar? It's similar to the violation and penalty levied against Alibaba (NYSE: BABA) , which was fined $2.8 billion in April for doing the same thing with e-commerce vendors.
For further details see:
This Chinese Tech Giant Just Got a Big-Time Fine, So Why Is Its Stock Skyrocketing?