While Walmart’s decision is clearly a short-term negative, JD.com doesn’t currently benefit much from its relationship with the retailer for its core e-commerce business, JPMorgan analysts led by Andre Chang wrote in a note Thursday.
JD.com shares are poised to rebound following Walmart’s decision to sell a stake in the company, as the move doesn’t affect the e-commerce firm’s positive fundamentals, according to JPMorgan Chase & Co.
The Chinese company’s Hong Kong-listed stock jumped as much as 3% on Thursday, after sliding 8.7% the previous day on news the US retailer was offloading all of its stake. The rebound helped the Hang Seng Tech Index gain as much as 1.6%.
