JD Health’s $11 Million Stock Buyback Falls Flat

Shares of China’s e-commerce giant JD.com Inc.’s health care arm struggled to recoup their losses on Thursday through a HK$87.4 million ($11.1 million) stock buyback, after plunging 13% the previous day.

JD Health International Inc., an online health care services provider, bought back 1.98 million shares on Wednesday, according to a company filing. The price of the company closed up 0.69% to HK$43.9 per share on Thursday.