JD.com (JD) Stock Gains After Shanghai Composite Breaks 5000

NEW YORK (TheStreet) -- Shares of JD.com (JD) were gaining 4% to $35.47 Friday after the Shanghai Composite Index reached its highest level since January 2008.

The Shanghai market closed up 1.5% at 5,023.10 on Friday, reaching about 5,000 for the first time in more than seven years, according to the Wall Street Journal. The market closed above 5,000 Friday after the Shanghai index fell 5% midday on Thursday.

The milestone mark for the index helped bring up a number of Chinese stocks.

JD.com is a Chinese direct sales e-commerce company based in Beijing. The company sells a variety of products including electronics, home appliances, and general merchandise products such as books and video products.

About 18.1 million shares of JD.com were traded by 3:10 p.m. Friday, above the company's average trading volume of about 8.6 million shares a day.

JD ChartJD data by YCharts

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