Why is JD.com stock surging today?

JD.com stock surged 5.3% to HK$107 on Tuesday, aided by a growing pivot into non-technology sectors amid heightened uncertainty over artificial intelligence spending.

Some pre-earnings positioning also aided JD, which is set to report its Q3 2026 on November 12.

Analysts forecast group revenue to grow approximately 3.5% year-over-year, supported by JD Retail’s return to positive growth, while narrowing losses in food delivery and the Jingxi segment are expected to bolster overall earnings recovery.

JD’s gains came amid broader gains in non-tech Hong Kong sectors, as investors sought exposure to more economically sensitive sectors amid a broader wipeout in AI valuations. While JD does have some AI investments, it is primarily an e-commerce company.

This also gives JD potential exposure to any more stimulus measures from Beijing.

JD was among the best gainers on the Hang Seng, which firmed mildly.