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JD.com Shares Fall 3% In Hong Kong As Broader Tech Selloff Deepens Ahead Of Q2 Earnings Report
['Tony Jackson']
International Business Times Australia
HONG KONG — Shares of JD.com Inc. fell nearly 3% Tuesday in Hong Kong trading, tracking a broader pullback across the city's technology sector as foreign investors continued trimming exposure to Chinese equities ahead of the e-commerce giant's upcoming quarterly earnings report.
JD.com's Hong Kong-listed shares closed at HK$126.50, down HK$3.90, or 2.99%, as of the close at 4:08 p.m. local time.
Tuesday's session extended a difficult stretch for Hong Kong's technology sector, which has faced renewed selling pressure in recent sessions after a brief rebound tied to softer-than-expected U.S. jobs data earlier in the month.
That optimism proved short-lived, however, as Tuesday's session saw the index open modestly higher before turning negative and grinding steadily lower through the afternoon.
Other major technology names also declined during Tuesday's session, with Tencent, Meituan and Lenovo all posting losses alongside JD.com, according to trading data.