Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
World
Adam Eckert

Why JD.com Stock Is Rising Today

JD.com Inc (NASDAQ:JD) shares are trading higher Friday after a Chinese state media report indicated the Chinese government may end its regulatory crackdown on big tech firms.

According to a South China Morning Post report, citing two sources briefed on the situation, the Chinese government is set to hold a symposium with the country's big tech companies. The scheduled meeting has increased optimism that restrictions on big tech firms could be eased and internet platforms could take on larger roles in China.

The symposium reportedly comes as the country looks to prop up its "ailing economy." The meeting is scheduled to take place following China's Labor Day holiday, which begins on May 1 and runs through the middle of the week. 

Two people reportedly told the South China Morning Post that the symposium will "assure business executives that regulators will no longer demand rectifications or impose surprise fines."

See Also: Morning Brief: Top Financial Stories Dominating on Friday, April 29

JD.com is a supply chain-based technology and service provider in China.

JD 52-Week Range: $41.56 - $92.69

According to data from Benzinga Pro, the stock was up 14.6% at $66.17 at press time.

Photo: SW1994 from Pixabay.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.