JD.com (09618.HK) saw its shares plunge 5.52% during the Wednesday morning trading session in Hong Kong, as the broader market faced significant pressure amidst escalating US-China trade tensions. The e-commerce giant's stock decline was part of a wider sell-off affecting Hong Kong-listed technology companies.
The sharp drop in JD.com's share price came as the Hang Seng Tech Index tumbled 4.3% in early trading. The sell-off was triggered by news that the United States plans to implement 104% duties on imports from China, set to take effect shortly after midnight. This announcement has reignited concerns about the impact of trade disputes on Chinese tech companies and their growth prospects.
JD.com's decline mirrored the performance of its peers in the tech sector, with rivals such as Alibaba also falling by 5%. The broader Hang Seng Index was down 3.1%, indicating a widespread risk-off sentiment in the Hong Kong market. As one of China's leading e-commerce platforms, JD.com's stock performance reflects both company-specific factors and the overall challenges facing Chinese tech firms in the current geopolitical climate.
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