Meituan, a local services and food delivery giant, exceeded Q4 financial expectations with strong results on both the top and bottom lines. Notably, the company's earnings per share (EPS) surpassed estimates, defying concerns about margin pressure due to increased user subsidies in its competition with Douyin (China's TikTok).
Asian equities showed a mixed performance overnight, with most Asian currencies weakening against the US dollar, except for the Yen and the Hong Kong Dollar. Mainland China and Hong Kong experienced declines influenced by various macro and micro factors.
