JD.com rallying after launching e-commerce platform in Thailand

JD.com shares were under pressure earlier this month after its CEO Liu Qiangdong was arrested on suspicion of rape in Minneapolis, Minnesota.Bobby Yip/Reuters

• JD.com shares are up after the Chinese e-commerce giant officially launched its JD CENTRAL platform in Thailand.
• The company partnered with Central Group, the biggest retail conglomerate in Thailand, to expand its footprint in Southeast Asia. 
• JD.com shares were under pressure earlier this month after CEO Liu Qiangdong was detained on rape allegations in Minneapolis, Minnesota.
• Watch JD.com trade in real time here.

JD.com is up 2% Thursday after the company officially launched its e-commerce platform, JD CENTRAL, in Thailand.

JD.com, the largest retailer in China, announced the new online platform will officially debut on Friday, September 28. JD CENTRAL is an e-commerce joint venture between JD.com and Central Group, the biggest retail conglomerate in Thailand, that will help JD.com expand its footprint in the Southeast Asia.

“With the launch of JD CENTRAL, we are delighted to be taking another exciting step forward in JD’s ongoing journey to serve customers throughout Southeast Asia,” Vincent Yang, CEO of JD CENTRAL, said in the press release.

“Our partnership with Central Group – a one-of-a-kind union between China’s biggest retailer and Thailand’s strongest retail player – will provide Thai customers with a truly world-class e-commerce experience and guarantee 100% product authenticity. This move will transform the local market and unlock the boundless consumer potential of the nation’s large population, with the ultimate goal of becoming the most trusted brand in Thailand.

JD.com shares were under pressure earlier this month — falling as much as 22% — after CEO Liu Qiangdong was arrested rape allegations in Minneapolis, where he was participating in a business administration PhD program at the University of Minnesota. He was released by local police, after 16 hours, without requiring bail, but remained under investigation. Liu has maintained his innocence.

JD.com is down 40% this year.

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