Stock Track | JD.com's Hong Kong Shares Surge 5% as Hong Kong Stocks Rebound

Stock Track

2024/10/09

JD.com's Hong Kong-listed shares (09618.HK) soared 5.09% on Wednesday, as Hong Kong stocks rebounded after a massive sell-off in the previous session.

The Hang Seng Index rose 1.7% in morning trading, while the Hang Seng Tech Index gained 2.6%, recouping some of the losses from Tuesday when the Hang Seng plunged more than 9% in its biggest fall in 16 years. Investors had been disappointed by a lack of new stimulus measures and few details about measures announced last month by Chinese authorities.

The recovery in Hong Kong stocks on Wednesday was likely driven by bargain-hunting by investors who viewed the previous day's sell-off as an overreaction. Investors may also have been reassured by comments from Chinese officials reiterating their commitment to supporting the economy and financial markets.

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