JD.COM INC-ADR - CybAI news

16 Aug

Chinese Tech Stocks Rally as JD.com Spurs Earnings Optimism

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Chinese technology stocks gained as resilient earnings from major e-commerce firms helped soothe concerns over weak consumption. The Hang Seng Tech Index rose as much as 2.2%, poised for its best day in August. JD.com Inc. contributed to about a third of the index’s gains after shares jumped more than 9% following a strong profit beat. Alibaba Group Holding Ltd. rose over 4% as traders focused on positive elements of its mixed results. Source link lol

14 Aug

David Tepper Sticks to China Bet While Trimming Nvidia Holdings

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Billionaire investor David Tepper held about steady in the Chinese companies that he scooped up earlier this year, even as he trimmed his stakes in Alibaba Group Holding Ltd. and US tech giants.While Tepper’s Appaloosa Management cut its stakeBloomberg Terminal in Alibaba by about 7% in the second quarter, the Chinese e-commerce giant remains the fund’s biggest position, accounting for 12% of its $6.2 billion equity portfolio, according to a 13F regulatory filing Wednesday. Source link lol

14 Aug

Tencent’s Sales Growth Sped Up After Blockbuster Game Release

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Tencent Holdings Ltd.’s revenue accelerated its growth after the blockbuster summer release of Dungeon & Fighter Mobile helped lift China’s most valuable company out of a gaming trough.Revenue jumped 8% to 161.1 billion yuan ($22.5 billion) for the April-June period, versus the projected estimate of 161.4 billion yuan. Net income surged to 47.6 billion yuan, compared with the estimated 39.9 billion yuan. Source link lol

09 Aug

Alibaba, Tencent to Provide Snapshot of China’s Economic Landscape

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Alibaba Group Holding Ltd., Tencent Holdings Ltd. and JD.com Inc. will provide a snapshot of China’s economy and consumer sentiment, as another somber earnings season is expected in the region.The tech giants remain focused on boosting shareholder returns, so more buybacks might be in store when they report, accordingBloomberg Terminal to Bloomberg Intelligence analysts Robert Lea and Jasmine Lyu. Source link lol