HONG KONG/BEIJING JD Logistics Inc soared 14% on debut, giving the Chinese delivery and warehousing firm a $36 billion stock market value and providing a…
Elaine Kurtenbach
JD Logistics CEO Rui Yu attends a ceremony to virtually observe the listing of the company on the Hong Kong stock exchange from JD.com headquarters in Beijing on Friday, May 28, 2021. JD Logistics shares jumped 14% in their trading debut Friday in Hong Kong. The company is a subsidiary of Chinese e-commerce giant JD.com. It is the latest technology company to list in the semi-autonomous Chinese city as Beijing intensifies scrutiny of the technology sector. (AP Photo/Ng Han Guan) May 28, 2021 - 1:38 AM
BANGKOK (AP) â World shares rose Friday, powered by encouraging signs that the U.S. economic recovery from the pandemic is gaining momentum. U.S. futures also were higher.
Asian shares rose Friday, powered by encouraging signs that the US economic recovery from the pandemic is gaining momentum. President Joe Biden s proposal for a USD 6 trillion budget also boosted buying of shares likely to benefit from heavy government spending. Tokyo s Nikkei 225 index climbed 2.1 per cent and other regional benchmarks all were higher. Shares in Chinese online retail giant JD.com Inc. s logistics arm rose 4.3 per cent on their first trading day in Hong Kong after it raised 24 billion Hong Kong dollars (USD 3.1 billion) by selling a portion of the unit to outside investors. JD Logistics Inc. is the latest technology company to list in the semi-autonomous Chinese city as Beijing steps up scrutiny of the industry. Its IPO was the second largest for the market this year after short video firm Kuaishou raised USD 5.3 billion.
JD Logistics Inc (2618.HK) surged on debut, giving the Chinese delivery and warehousing firm a $34 billion stock market value and providing a strong start on Friday for Hong Kong's second-largest listing this year.