Trip.com Group Ltd. posted its biggest gain in nearly a year in Hong Kong trading after the outcome of its antitrust investigation largely matched market expectations. The development lifted a key regulatory overhang that had weighed on the stock for months, providing clarity for investors despite the company being hit with a hefty fine.

The Chinese online travel giant's shares jumped as the resolution removed uncertainty that had suppressed valuation. Analysts noted the penalty was within the range of estimates, allowing the market to focus on fundamentals rather than regulatory risk.

Trip.com's rebound signals returning confidence in China's internet sector as Beijing's crackdown on platform monopolies shows signs of normalization. The company can now redirect attention to recovery in domestic and outbound travel demand.

Investors will monitor whether the cleared overhang translates to sustained share performance as Trip.com navigates a competitive landscape and macroeconomic headwinds.