BUZZ-JD.com drops as competition pressures linger; Alibaba, Meituan fall

Reuters2025-04-24
BUZZ-JD.com drops as competition pressures linger; Alibaba, Meituan fall

** Hong Kong shares of Chinese e-commerce giant JD.com 9618.HK fall 7.8% to HK$122.10, their lowest since September 24, 2024

** Stock set for the biggest one-day pct drop since April 7; top loser on Hang Seng Index .HSI, which is down 1.1%

** Chinese authorities have asked e-commerce platform operators to stop insisting on merchants refunding customers without requiring the return of goods, to alleviate financial pressure on merchants, two people familiar with the matter said

** The government met operators including PDD PDD.O and concluded the practice must end by July, the people said, without specifying dates

** PDD and peer JD.com declined to comment, while Alibaba did not respond to requests for comment

** JD.com also calls out anti-competitive pressures on food delivery couriers

** Hong Kong shares of Alibaba 9988.HK eases 2.2%, food courier Meituan 3690.HK drops 5.4%

** Hang Seng Commerce & Industry Index .HSNC falls 1.6%, Hang Seng Tech Inded .HSTECH drops 2.1%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment