Why did JD.com stock go up today? Alibaba spurs optimism ahead of Q3 results
Andrew Burton

JD.com (NASDAQ:JD) shares gained more than 7.5% on Thursday as Chinese tech stocks rose following Alibaba's (NYSE:BABA) third-quarter results and ahead of the company's own quarterly results, slated to be released tomorrow before the start of trading.
Led by CEO Liu Qiangdong, JD.com (JD), is expected to earn 63 cents per share on $34.61B in revenue, up 2.1% year-over-year, as the company deals with the slowing Chinese economy and regulatory crackdown from Beijing.
Nearly 15M shares changed hands, ahead of the average daily volume of just over 9M.
Alibaba (BABA), the largest among China's tech companies, said for the period ending September 30, it generated $29.12B in revenue, up 3% year-over-year, falling short of the $29.61B that analysts were expecting.
China commerce accounted for $18.93B (RMB135.431B), down 1% year-over-year. Conversely, international commerce rose 4% year-over-year to at $2.2B (RMB15.747).
In a statement, Alibaba (BABA) Chairman and Chief Executive Daniel Zhang said the results were "solid" despite the ongoing challenges.
Alibaba (BABA) shares finished the session with a gain of 7.8% to $84.26.
Earlier this week, hedge fund Tiger Global disclosed that it had pared its stake in JD.com (JD) during the third-quarter, while making several other changes to its portfolio.