all of that bodes well for walmart which is forecast to report a 4% rise in sales. results from the world s largest retailer should also offer a glimpse into demand for back to school items. traders are hoping that, despite higher borrowing costs, it will show that us shoppers are still willing to spend on essentials. staying with retail, jd.com beat analysts forecast for second quarter revenue which rose more than 7% to nearly $40 billion. the chinese e commerce giant s focus on lower priced products paid off in the fight for customers amid an economic slowdown. the company said it attracted more vendors to its platform and its users shopped more frequently as it product range expanded. it was a different story however for tencent where earning results came in below estimates in the second quarter. revenue grew 11% to just over $20 billion.
wanted higher profit margins than analysts had selected as it offered fewer discounts. all that bodes well for walmart which is forecast to report a 4% rise in sales. results from the world s largest retailer should also offer a glimpse into demand for back to school items. traders are hoping that despite higher borrowing costs, it will show that us shoppers are still willing to spend on essentials. staying with retail, jd.com did analysts forecast for a second quarter revenue which rose more than $40 billion. the chinese e commerce giant s focus on lower priced products bought off in the fight for customers in an economic slowdown. the company said it attracted more benders to its platform and users shop more frequently as it product range expanded. it was a different story for tencent where earning results
higher profit margins than expected as offered fewer discounts. all that bodes well for walmart which is due to report a 4% rise in sales. results from the world s largest retailer should also a glimpse into demand for back to school items. traders are hoping that despite higher borrowing costs, it will show that us shoppers are still willing to spend on essentials. staying with retail jd.com beat analyst forecasts for second quarter revenue, which rose more than 7% to nearly $40 billion. the chinese e commerce giant s focus on lower priced products paid off in the fight for customers amid an economic slowdown. the company said it attracted more vendors to its platform, helped by lower thresholds and costs for them to join, and that users shopped more frequently as its product range expanded. it was a different story over at tencent where earnings results came in below estimates in the second quarter. revenue grew 11% to just over $20 billion. tencent s core gaming
which have surprised on the downside, not materially, but still the downside of expectations, we don t think that has been crossed with the data we have seen. and the outlook is still relatively soft. we are still forecasting a recession for the new zealand economy and that should really help those inflation pressures. think there is a bank and sit tight today and for the remainder this year. that is ma jo remainder this year. that is mary jo vergara, remainder this year. that is mary jo vergara, a - remainder this year. that is mary jo vergara, a senior. maryjo vergara, a senior economist at kiwibank. in other news making headlines, amazon has started releasing some sellers funds back to the mother complains in the uk and eu are of money being held unexpectedly. the change in policy comes after the bbc reported amazon s actions of some businesses close to collapsing. in may, the e commerce giant said it would temporarily hold sellers funds. in the sellers would be able to withdraw