Investors in some of China’s biggest technology companies have had a rough year, but they got some good news at the end of this week.
The Hong Kong-listed shares of e-commerce giant JD.com closed up 7.3% on Friday, following a similar gain in the company’s American depositary shares the day before.
The move came after the company reported net profit of around $900 million in the first quarter, beating some analysts’ estimates. JD.com was the first of China’s biggest tech players to report earnings—and shares of the others followed its lead higher.
Source: https://www.wsj.com/livecoverage/stock-market-today-dow-jones-05-12-2023/card/chinese-tech-stocks-rally-after-jd-com-s-earnings-surprise-uVVc0qvh3N8d3kHb8jzF?siteid=yhoof2&yptr=yahoo