Why JD.com Stock Shot Higher Today
JD.com (NASDAQ: JD) stock saw significant gains in Friday's trading. The e-commerce company's share price closed out the session up 4.5%, according to data from S&P Global Market Intelligence.
The Chinese government initiated new stimulus measures today. The move helped send the country's tech stocks higher in the daily session, and JD.com participated in the rally.
China's central banking authority announced today that it had issued a new round of loans to help stimulate the country's property sector and broader economy. The $112 billion one-year loan package is a new stimulus record for the country, and was also paired with a policy to reduce the size of down payments needed to buy homes.
Source Fool.com
