Chinese online travel firms Ctrip (CTRP -12.6%) and Qunar (QUNR -12.1%), both of which have shown plenty of volatility in recent weeks, are each down sharply. A selloff in Chinese equities (followed the release of CPI/PPI data) could be playing a role.
China's 86 Research is out with a note stating Qunar's adoption of mobile messaging leader Tencent's online payments platform, together with a related coupon promotion, could boost its mobile booking volumes as it contends with a Ctrip mobile promotion.
Concerns about intense price competition/promotional activity in the Chinese online travel space have been around for a while.
Ctrip is already down 21% in 2014. Shares fell sharply last Friday after Qunar provided upbeat air ticket bookings and mobile metrics.