HONG KONG (Reuters) -Alibaba’s mapping app Amap recorded more than 360 million daily active users on the first day of China’s eight-day National Day holiday on Wednesday, setting an all-time high for the platform, the company said in a statement.

Alibaba and rival Meituan have been locked in a bitter battle for market share, with Amap moving away from its traditional focus on navigation and encroaching on Meituan’s local-lifestyle territory by launching its own ranking of restaurants, hotels and tourist destinations.

In Thursday trade in Hong Kong, index heavyweight Alibaba jumped 4% after JPMorgan raised the tech giant’s target share price to HK$240 ($30.85) from a previous HK$165.

Coinciding with the traditional Mid-Autumn Festival, the National Day holiday this year has been extended

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