The announcement is JD.com’s second buyback this year, after announcing a $3 billion buyback in March.<\/p>\n

In response to the move, Chelsey Tam, senior equity analyst at Morningstar, said that the decision to announce the share buyback is “not surprising.” She explained, “It is a common theme in China when share prices and growth are low.”<\/p>\n

Tam also pointed to Vipshop<\/a><\/span><\/span><\/span>, another Chinese e-commerce player that has increased its own share buyback program<\/a> last week.<\/p>\n

China’s e-commerce sector has been dogged by a slow domestic economy.<\/p>\n

Earlier this month, Alibaba’s second-quarter results missed expectations on both the top and bottom lines. On Monday, Temu-owner Pinduoduo saw its worst ever session <\/a>after its second-quarter results missed both revenue and earnings per share expectations.<\/p>\n

Back in February, Alibaba announced a $25 billion share buyback<\/a> after it missed revenue targets for the fourth quarter of 2023.<\/p>\n<\/div>\n<\/div>\n

Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":"

JD.com set up an Innovative Retail division that houses its grocery business 7Fresh. Bloomberg | Bloomberg | Getty Images Hong Kong-listed shares of Chinese online retailer JD.com climbed 1.2% on Wednesday, outperforming the decline on the Hang Seng index after the firm announced a $5 billion buyback late Tuesday. U.S. listed shares of the firm…<\/p>\n","protected":false},"author":1,"featured_media":88049,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[],"class_list":["post-88048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n