CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

China's JD.com misses estimates for quarterly revenue

By Reuters_News

10:53, 9 March 2023

By Reuters_News

10:53, 9 March 2023

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A file photo of the logo of JD.com at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022.
A file photo of the logo of JD.com at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022.

Adds net income, background

- Chinese e-commerce firm JD.com Inc 9618.HK, narrowly missed estimates for fourth-quarter revenue on Thursday as COVID lockdowns in the country fueled economic uncertainty and pressured spending.

Revenue rose 7.1% to 295.4 billion yuan ($42.8 billion) in the three months ended December, missing analysts' estimates of 296.17 billion yuan, according to Refinitiv data.

Parts of China remained under strict lockdown for most of the December quarter, with shoppers holding back on spending amid continued economic uncertainty.

JD.com's quarterly net income attributable to ordinary shareholders was 3 billion yuan, compared with a net loss of 5.2 billion yuan a year earlier.

Excluding one-off items, the company earned 4.81 yuan per American depositary share.

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Short position overnight fee 0.4222%
Overnight fee time 21:00 (UTC)
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US100

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Spread 1.8

Gold

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Long position overnight fee -0.0180%
Short position overnight fee 0.0098%
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Oil - Crude

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Short position overnight fee -0.0049%
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($1 = 6.94 Chinese yuan renminbi)


Reporting by Yuvraj Malik in Bengaluru; Editing by Anil D'Silva

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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