Both firms have increased investments in the city, waiving delivery fees for some orders and boosting services such as local product returns.

Alibaba and JD.com are competing for Hong Kong market share amidst China's stimulus plans. Baidu, PDD, NIO, Li Auto, XPeng, and ZEEKR are also affected.

Mainland China remains closed for the week-long national holiday, Taiwan is closed for a typhoon, and India is closed for Mahatma Gandhi Jayanthi, celebrating the birth of Gandhi.

U.S.-listed China stocks continue to see their fortunes rise after wide-reaching economic measures were introduced last week by Beijing. Chinese stock markets are having their best week in over a decade.

Chinese e-commerce juggernaut Alibaba Group Holding (NYSE:BABA) and rival JD.com, Inc (NASDAQ:JD) are aggressively fighting for market share in Hong Kong. The companies waived delivery fees for certain orders and boosted related services like local product returns in Hong Kong,

While China is celebrating the Golden Week holiday, the Hang Seng index in Hong Kong is continuing to benefit from the interest-rate cuts announced last week.