Shares of JD.com Inc. surged over 5% in early trading on Wednesday, as investors anticipated a strong quarterly earnings report from the Chinese e-commerce giant, boosted by potential government stimulus measures aimed at reviving consumer spending.
The stock's rally came ahead of JD.com's third-quarter 2024 earnings release scheduled for November 14th. Analysts expect the company to benefit from China's recent efforts to stimulate the economy, including a trade-in program for household appliances and consumer goods.
According to industry experts, JD.com's electronics and appliance sales are likely to receive a significant boost from the trade-in program, which encourages consumers to replace their old devices with new ones. Additionally, the company's performance during the upcoming Singles' Day shopping festival on November 11th is expected to be robust, driven by increased consumer demand and promotional activities.
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