China's JD.com gets a boost on signs of June sales gains
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JD.com (NASDAQ:JD) shares climbed as much as 3% Thursday as Mizuho Securities analyst James Lee said the Chinese e-commerce giant showed signs of business improving during June.
Lee said that after holding a call with JD's (JD) management, the company's revenue from consumers rose 10% in June over the same month a year ago. Lee said areas such as demand for home appliances and supermarket goods showed consumers being willing to open their wallets during the month.

However, the company's overall quarter "appears to be tracking modestly below expectations" due to Covid-related lockdowns in China that only recently began to loosen is several major metropolitan areas.
Lee made no changes to his buy rating and $90-a-share target price on JD's (JD) stock.
Along with JD (JD), other leading Chinese Internet companies such as Alibaba (BABA) and Baidu (BIDU) also rose Thursday amid reports that Beijing is considering a $220B stimulus package to support infrastructure spending and boost the nation's economy.