By Dhirendra Tripathi

Investing.com – JD.com ADRs (NASDAQ:) fell 0.5% in Wednesday’s pre-market trading despite the company’s announcement it would to boost its share buyback plan by 50%.

China’s second largest online retailer is now willing to spend up to $3 billion on buying back its shares, boosting its ongoing $2 billion repurchase exercise. This buyback can continue until March 17, 2024.

Separately, the company stated that it took a $5 billion loan over five years to help fund green initiatives and other corporate goals.

JD’s ADRs ended Tuesday at $65.87. This is down 2.7%.

Shares of Chinese technology firms have tumbled over the last few months as investors, wary of increasing supervision by the country’s regulators, have dumped their holdings.   

The recent decline in Chinese technology shares is reflected in today’s drop. Tencent Holdings Ltd. stock (HK.:) closed 1.2% higher in Hong Kong today. Alibaba (NYSE:) fell 2.6%. 

Last week’s move by Tencent Holdings (OTC:) to cut its holding in JD.com and distribute its shares to its own equity holders have also kept the retailer’s shares under pressure.

China’s proposed regulations that prohibit foreign investment into certain sectors, as well as increasing the scrutiny of companies selling shares offshore, are also impacting shares.