JD.com shares post 10% first day pop, largest Chinese IPO in US
京東集團在美國納斯達克上市

China’s JD.com made quite a debut Thursday on the Nasdaq -- proving investor appetite for Chinese tech stocks is far from satisfied. Now the market is waiting for the biggie -- Alibaba, JD’s larger rival in the ecommerce space.

10%, is how much Chinese ecommerce firm JD.com shares rose on debut at the Nasdaq, closing at 20.90 dollars per share, putting the online retailer’s market value at 28.6 billion US dollars.

JD.com’s listing might foretell good fortunes for the other Chinese tech IPOs, including the share sale for JD.com rival Alibaba that could raise up to 20 billion US dollars.

While JD.com has yet to make money in its ten year history, it hopes to break even this year and is diversifying.

JD.com’s listing gained attention because it ranks no.2 in China’s online retail market -- the leader, Alibaba -- is still getting ready for its US IPO. China’s online retail business increased 42.8% year on year in 2013 -- JD has about a quarter, while Alibaba’s Tmall has about half.