Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»JD.com leads losses in Hong Kong, falling 10% after Walmart confirms stake sale
Finance

JD.com leads losses in Hong Kong, falling 10% after Walmart confirms stake sale

August 21, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
JD.com leads losses in Hong Kong, falling 10% after Walmart confirms stake sale
Share
Facebook Twitter LinkedIn Pinterest Email

Signage at JD.com’s warehouse in Shanghai, China, on Mar. 9, 2022. The U.S. Securities and Trade Fee on Wednesday added over 80 corporations to its listing of entities going through potential expulsion from American exchanges, which embody China’s JD.com, Pinduoduo, Bilibili, and NetEase.

Qilai Shen | Bloomberg | Getty Photos

Shares of Chinese language e-commerce big JD.com plunged 10% on Wednesday in Hong Kong after U.S. retailer Walmart confirmed it is going to promote its stake within the Chinese language agency.

Inventory Chart IconInventory chart icon

hide content

Walmart instructed CNBC the choice to promote its stake will enable the corporate to “give attention to our sturdy China operations for Walmart China and Sam’s Membership, and deploy capital in the direction of different priorities.”

The corporate stated “JD has been a valued accomplice to us over the previous 8 years, and we’re dedicated to a continued business relationship with them.”

The inventory was the biggest loser on Hong Kong’s Cling Seng index. The U.S.-listed shares fell 9.5% in after-hours buying and selling.

Walmart entered right into a strategic alliance with the Chinese language firm in June 2016, with the U.S. retailer taking a 5% stake in JD.com again then.

In its 2023 annual report, JD.com reported that Walmart owns 9.4% of unusual shares within the firm as of March 31, holding simply over 289 million shares.

JD.com didn’t have a remark when contacted by CNBC.

— CNBC’s Evelyn Cheng contributed to this report.

Source link

confirms falling Hong JD.com Kong Leads losses sale stake Walmart
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Taiwan Semiconductor Manufacturing Company Limited (TSM) Slid due to Broader Market Correction

May 30, 2025

BMO’s Q2 earnings show no improvement in credit conditions for trucking

May 30, 2025

Factors that Powered HCI Group’s (HCI) Performance in Q1

May 30, 2025

Why Harmony Gold Mining Company Limited (HMY) Went Down On Tuesday

May 29, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Taiwan Semiconductor Manufacturing Company Limited (TSM) Slid due to Broader Market Correction

May 30, 2025

Could have done a lot more, showed restraint: Rajnath on Operation Sindoor | India News

May 30, 2025

‘We separated due to…’: What choreographer Prabhudeva and ex-wife Ramlath’s story teaches us about emotional maturity after divorce | Feelings News

May 30, 2025

“Had my priorities confused”- When Sydney McLaughlin-Levrone opened up on how faith shaped her track journey

May 30, 2025
Popular Post

3 things investors should be thankful for

AI, cost cuts take center stage

Justin Thomas has a unique practice session at The Sentry 2025

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.