Meituan, Alibaba Shares Jump as China Seeks to Curb Price Wars

Photographer: Na Bian/Bloomberg Shares of China’s biggest food-delivery firms climbed as the nation’s top antitrust body launched a probe into competition practices in the sector, spurring hopes that authorities will rein in subsidy-driven price wars. Market leader Meituan’s stock rallied 6.6% in Hong Kong, the most since May 29. Shares of Alibaba Group Holding Ltd., the biggest challenger to Meituan, rose 5.3% while those of JD.com Inc gained more than 2%. Most Read from Bloomberg “The increased scru ...