meituan shares jumped on wednesday morning after a chinese stateowned newspaper said fridays selloff in the food delivery giant was an overreaction the hong konglisted stock gained as much as 77 by the midday trading break sharply rebounding from a 15 dive on friday which sent shares to a 19month low last weeks slump came after chinese authorities called for delivery platforms to cut merchant fees in a bid to shore up the countrys struggling service sector the companys shares recovered on wednesday as investors found some reassurance from an article in chinas stateowned economic daily the article said some have interpreted the new policy as a sign of continued regulatory tightening on platform operators but this reaction was a bit over the top the official newspaper said lowering service fees doesnt mean a worrisome outlook for platform companies it also highlighted that the policy was a guidance rather than an order although meituans shares have been given a momentary respite they are still down nearly 55 over the past year