Alibaba and Nio stocks, and the ADS of other China-based companies get a boost after JD's results

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

The ADS of Nio and Alibaba rallied Thursday, as did the shares of other China-based companies, in the wake of a big earnings beat from e-commerce giant JD.

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.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines