Why JD.Com Stock Is Trading Higher

JD.Com Inc JD shares are trading higher by 2.29% to $39.32 during Wednesday's session. Shares of Chinese companies are trading higher amid recent hopes of looser COVID restrictions. However, earlier reports also suggested China's National Health Commission reiterated its 'zero-COVID' stance.

Per a Wednesday report by CNN, Chinese health officials still say that going back on 'zero-Covid' at this point would risk a huge surge in infections and deaths that could overwhelm the country’s fragile health care system.

What Else?

Reuters reported on Tuesday- an unverified note trending in social media, and tweeted by influential economist Hao Hong, said a "Reopening Committee" has been formed by Politburo Standing Member Wang Huning.

Reuters added that the unverified note says the committee is aiming to relax COVID rules, perhaps by March, 2023.

"I don't know where you got this information. I truly don't know anything about this," foreign ministry spokesman Zhao Lijian said when asked about such a committee.

According to data from Benzinga Pro, JD has a 52-week high of $92.69 and a 52-week low of $33.17.