U.S.-listed shares of JD.com Inc. JD, +4.05% were rallying about 4% in Monday morning trading after Dutch internet holding company Prosus NV PRX, +15.47% disclosed that it sold its stake in the Chinese e-commerce company for $3.7 billion. “This was a big overhang that investors were avoiding JD on long side, but now that it has been removed, creates an even better LONG set-up into China economic forum in July where we expect Xi to outline greater stimulus to spark economic growth,” wrote Mizuho desk-based analyst Jordan Klein, who is associated with the sales team and not the research unit. JD.com’s U.S.-listed shares have gained 11.0% over the past three months as the KraneShares CSI China Internet ETF KWEB, +1.02% has risen 14.6% and as the S&P 500 SPX, +0.16% has declined 14.1%.
