Investors

Hong Kong’s stock market witnessed a classic example on Thursday of how fear and uncertainty can outweigh fundamentals. Shares of Meituan, the Chinese food delivery giant, plunged 6.1%, falling to HK$72.95 — the company’s lowest level since February 2024. A business once considered one of the pillars of China’s tech sector lost billions of dollars in market capitalization in a single trading session. And all because of rumors. Rumors that were officially denied, yet still caused damage comparable to a real corporate crisis.

On Thursday morning, reports began circulating across Chinese social media and among market participants claiming that Meituan was planning massive layoffs. According to the rumors, up to 50% of employees in certain product-related positions could be cut. For a company aggressively expanding its grocery delivery operations and competing with giants like JD.com and Alibaba, the news hit the market like a bolt from the blue.

Meituan employees quickly denied the reports. They called the information false and pointed out that the company’s 2026 campus recruitment program was continuing as planned. Moreover, the company is still actively hiring specialists in technology, product development, and operations. In theory, the denial should have calmed investors. It did not. The stock continued to slide.

Why? Because in today’s atmosphere surrounding China’s tech sector, investors prefer to sell first and ask questions later. Over the past few years, they have repeatedly been burned by sudden regulatory crackdowns, abrupt strategy shifts, and real layoffs that initially appeared as “just rumors.” The market has developed a defensive reflex: if there are reports of trouble, dump the stock immediately before it’s too late.

Still, it would be unfair to blame Meituan’s decline entirely on rumors. The rumors were merely the spark; the powder keg...

The global metals market is entering the middle of May with investors still unsure about where the economy goes next. After months of sharp swings across commodities and financial markets, traders are becoming more selective. Money is flowing back into safer assets like gold, while industrial metals are struggling to regain momentum.

Right now, everything comes down to a few major questions: Will the Federal Reserve finally start cutting interest rates? Can China revive demand in construction and manufacturing? And is the global economy slowing down more than expected?

Those questions are driving nearly every move across the metals market — from gold and silver to copper, aluminum, and nickel.

Gold continues to trade near historic highs and remains the strongest part of the metals market. Investors are still looking for protection against economic uncertainty, stubborn inflation, and geopolitical risks.

There’s also growing belief that the US Federal Reserve may eventually ease interest rates later this year. That matters because lower rates usually weaken bond yields and make gold more attractive.

What’s interesting this time is that gold has stayed strong even while the dollar remains relatively expensive. In previous years, a stronger dollar would normally push gold lower. But the market mood has changed. Investors are less focused on short-term currency moves and more focused on preserving capital.

Central banks are also helping support prices. Several countries continue adding gold to reserves as governments try to reduce dependence on the US dollar and protect themselves from financial instability.

At the same time, geopolitical tensions continue to keep traders nervous. Every new headline involving conflicts, trade disputes, or political uncertainty quickly sends buyers back into safe-haven assets.

Silver is benefiting from the same safe-haven demand supporting...