Tech Insider: JD.com Suffers Southeast Asia Setback, IFlytek’s Stock Surges

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

JD.com pulls out of e-commerce in Indonesia and Thailand

JD.com Inc. said it would close its online shopping sites in the increasingly competitive Indonesian and Thai markets next month in a major setback for the Chinese e-commerce giant’s Southeast Asian business. The firm said it would shift its business there toward supply-chain management, warehousing and other services, in line with its broader global strategy.