Shares of Chinese e-commerce giant JD.com (HKG:9618) soared nearly 15% on Wednesday, driven by a collaboration deal with rival Alibaba and renewed optimism over China's economic stimulus measures.
According to reports, Alibaba's Taobao and Tmall platforms will utilize JD.com's logistics services starting mid-October, while JD.com will be able to use Alibaba's Cainiao logistics network and Alipay payment system. This collaboration between the two e-commerce giants is expected to boost operational efficiency and provide customers with more seamless shopping experiences.
Additionally, the surge in JD.com's stock price was fueled by a broader rally in Chinese stocks listed in Hong Kong, following the introduction of stimulus measures by Chinese authorities last week. These measures, including interest rate cuts, liquidity support, and easing of real estate restrictions, have stoked investor confidence in China's economic recovery and growth prospects.
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