JD.com gains lead upbeat day for Chinese tech stocks
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JD.com (NASDAQ:JD) shares rose more than 5%, Tuesday, as Chinese tech stocks mostly advanced and continued to reflect what has been erratic sentiment about the sector across Wall Street.
Along with JD (JD), Alibaba (BABA) was up by almost 2%, Tencent Holdings (OTCPK:TCEHY) shares climbed 4%, Baidu (BIDU) edged up by 1%, Pinduoduo (PDD) rose by 3%, Bilibili (BILI) was up by almost 8%, DiDi Global (DIDI) edged up by 1.3% and the KraneShares CSI China Internet ETF (KWEB) rose by more than 4%.

There was no major news affecting JD (JD), or the broader Chinese tech stock sector on Tuesday. Last week, Chinese tech stocks got a boost following reports that Beijing had told several companies to prepare for more audits in order as part of an effort to ensure their shares remain listed in the United States. Alibaba (BABA) added to that enthusiasm by increasing its stock buyback plan to $25 billion from $15 billion.
However, later in the week, U.S. regulators threw cold water on the recent enthusiasm by saying reports that a deal to keep numerous Chinese stocks from potentially being de-listed in the U.S. was "premature."