Meituan, Alibaba, JD.com surge as Chinese regulators end food delivery price war.

Chinese food delivery giants Meituan, Alibaba, and JD.com surged on Wednesday after state media and the regulator urged the industry to end the price war. Meituan shares rose as much as 12.6%, while Alibaba and JD.com jumped over 3%. State media publication Economic Daily called for an end to the "bleeding" price war, with the regulator later reposting the piece on its official website. The report warned of a vicious cycle of money loss and market share grabbing, dragging down broader consumption recovery.