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Investors in some of China’s biggest technology companies have had a rough year, but they got some good news at the end of this week.
The Hong Kong-listed shares of e-commerce giant JD.com closed up 7.3% on Friday, following a similar gain in the company’s American depositary shares the day before.
The move came after the company reported net profit of around $900 million in the first quarter, beating some analysts’ estimates. JD.com was the first of China’s biggest tech players to report earnings—and shares of the others followed its lead higher.
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