HK Stock Market Move | TRIP.COM-S (09961) opened lower but trended higher, rising over 4%. Global business continues to be an important growth driver.

TRIP.COM-S (09961) opened lower but trended higher, rising over 4%. As of press time, it was up 3.98% at HK$323.6, with a turnover of HK$1.369 billion. On the news front, Trip.com Group today announced its Q2 2026 financial results, showing net operating revenue of RMB 15.7 billion for the period, up 6% year-on-year; adjusted EBITDA was RMB 4.6 billion, down from RMB 4.9 billion in the same period last year. In Q2, due to an antitrust penalty from the State Administration for Market Regulation, the company recognized a one-off charge of approximately RMB 5.2 billion, resulting in a net loss of RMB 2.4 billion; excluding the impact of the antitrust penalty, net profit was RMB 2.7 billion. Global business continued to be an important growth driver for the group. In Q2, revenue from Trip.com's international platform grew over 50% year-on-year, while inbound travel revenue continued to achieve high double-digit year-on-year growth on top of a previously high base. BOCI noted that after market expectations were significantly lowered, the company's valuation is expected to gradually improve based on 2027 earnings forecasts. The bank maintained its "Buy" rating on Trip.com with a target price of HK$428.