Share buyback programs are generally viewed positively by the market as they can reduce the number of shares outstanding, potentially increasing the earnings per share (EPS) and making the stock more attractive to investors. Given the size of the buyback program ($3.0 billion) and the duration (36 months), this move by JD.com signals confidence in the company's financial health and future prospects. It is likely to be seen as a bullish signal by investors, potentially leading to a short-term increase in the stock price.