New York, Jan 13, 2026, 04:04 EST — Premarket
JD.com, Inc. (NASDAQ:JD) jumped 4.3% on Monday, closing at $30.73. The surge pushed the U.S.-listed Chinese e-commerce stock higher as traders returned to China tech ahead of Tuesday’s session.
The shift follows fresh focus on subsidy wars in food delivery and the fast-growing “instant retail” sector — where goods arrive within roughly an hour. China’s market regulator announced a competition probe targeting key platforms, sparking hopes that the steepest discounting might ease. 1
The macro spotlight hits first. Economists polled by Reuters project U.S. consumer prices climbed 0.3% in December, with a year-on-year gain of 2.7%. Core inflation is also expected to rise 0.3%. November’s figures were distorted by data collection hiccups during the government shutdown. Oscar Munoz from TD Securities anticipates “a meaningful payback after collection issues” in this report. 2
Chinese regulators are tackling what they describe as “involution-style” competition — a term locals use for cutthroat rivalry that eats into profits. The State Administration for Market Regulation is zeroing in on excessive subsidies and price wars in its probe. 3
Monday’s U.S. session highlighted the depth of the rally: the Nasdaq Golden Dragon China Index surged 4.3% to 8,023. JD climbed 4.4%, but Pinduoduo slipped 1.5%, showing that gains were selective within the group. 4
Alibaba’s U.S.-listed shares surged 10.17% to $166.31, outperforming peers as volume soared well beyond the 50-day average, according to MarketWatch data. 5
JD is still working through a buyback program. A filing from Jan. 8 revealed the company bought back around 183.2 million Class A shares, spending close to $3.0 billion in 2025, then cancelled them. That leaves about $2.0 billion left under the $5.0 billion buyback plan, which is set to run until August 2027. 6
There aren’t many company-specific catalysts at the moment, but the next clear milestone is earnings. According to Nasdaq, JD is set to release its results around March 5. 7
But the bet can still backfire. A regulator’s review might just as easily tighten rules and boost costs as it could ease a price war. And the platforms could continue spending heavily to protect market share, even if officials hint they want that to slow down.
Tuesday’s market action hinges on the December U.S. consumer price index, set for release at 8:30 a.m. Eastern. Early moves in China ADRs like JD will probably track shifts in rate expectations. 8
