According to the 36Kr app, Nomura stated that China's series of stimulus policies launched at the end of September focus on stabilizing the real estate market and revitalizing consumer demand. If consumer sentiment can improve, it is expected that the Chinese e-commerce sector has the potential to outperform the broader market. The top picks for short-term trading are JD.com (JD.US), pdd holdings (PDD.US), alibaba (BABA.US), all rated as 'buy'.

Nomura has raised the target price of JD.com US shares (JD.US) from $38 to $53, an increase of 39.5%. This is mainly due to China's latest stimulus measures potentially improving the overall retail environment, along with expectations of JD.com outperforming profit forecasts in the third quarter, leading to an upward adjustment in the full-year profit forecast. Nomura expects JD.com's third-quarter revenue to meet expectations, with a projected 5% year-on-year growth. Profit is expected to exceed forecasts, with adjusted earnings per share growth of 14%, surpassing market expectations by 3%.

Nomura forecasts that JD.com's retail revenue will increase by 5% year-on-year in the third quarter, maintaining an adjusted operating profit margin of about 5.2%. In particular, the electronics category may grow by 3%, reversing the 5% decline in the second quarter. This is primarily due to several provinces in China implementing subsidies for trading in old items for new ones for various electronic products, mainly focusing on home appliances. JD.com, as one of the largest sales channels for electronic products, is expected to continue benefiting.

Nomura has raised JD.com's full-year net income by 2% for the current fiscal year, primarily benefiting from higher revenue expectations for JD.com's logistics. The estimated annual revenue growth for JD.com's retail is 4.7%, with the operating profit margin potentially expanding to 3.9%.