The U.S.-listed shares of Nio Inc. and Alibaba Group Holding Ltd. rallied Thursday, as did the American depositary shares of other China-based companies, in the wake of a big earnings beat from e-commerce giant JD.com Inc.
The Invesco Golden Dragon China exchange-traded fund PGJ , which tracks the U.S.-listed stocks of companies headquartered in China, rose 2.8% in midday trading, with 20 of 63 components gaining ground. JD shares JD ran up 5.3%, after the Beijing-based e-commerce company reported first-quarter adjusted earnings per ADS that soared 88.1% from a year ago to RMB4.76, which was well above the FactSet consensus of RMB3.53.
Chief Financial Officer Sandy Xu added on the call: “We also see more encouraging trends in Q2, both financially and operationally, as we push forward our proactive adjustment.”