China's JD.com is to close its e-commerce services in Indonesia and Thailand, retreating from Southeast Asia after a bruising year for China's retail and technology sectors. JD.com will end its services in Thailand from March 3 and in Indonesia from the end of the same month, its local websites showed. A spokesperson for JD.com said in a statement on Monday that the company will continue to serve global markets, including Southeast Asia, through its supply chain infrastructure.
Sea has lost more than US$160 billion of its market value since October 2021 on questions about its money-making prospects.
Sea Limited Sponsored ADR (SE) closed at $66.73 in the latest trading session, marking a +1.32% move from the prior day.