JD.com Spurs E-Commerce Rally on Mobile Revenue Outlook
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JD.com Inc., China’s second-largest e-commerce site, rose to a record in New York amid signs a push into social media by the nation’s online retailers is bolstering revenue.
JD.com advanced 5.1 percent in New York for a 36 percent surge since its initial public offering last month. Vipshop Holdings Ltd., a web retailer of discounted fashion goods, jumped to the highest since March. The Bloomberg China-US Equity Index climbed 0.9 percent to 102.31. NQ Mobile Inc. slipped after surging 31 percent on June 4 following its announcement that an internal probe didn’t turn up any evidence of the fraud alleged by short seller Muddy Waters LLC.