Alibaba, JD Tout Singles' Day Highs While China Economy Sags [Yahoo! Finance Canada]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Alibaba Group Holding Ltd., JD.com Inc. and smartphone maker Xiaomi Corp. on Tuesday presented a plethora of statistics to drive home how this year's Singles' Day haul was one of the biggest yet. Alibaba said the number of paid 88VIP members who placed orders grew by 50%. Smaller rival JD reported customers increased by more than 20%. And Xiaomi co-founder Lei Jun said sales over the four-week promotional period hit a record 31.9 billion yuan ($4.4 billion). Investors for years have scrutinized business during Singles' Day — a festival of online bargains that dwarfs Cyber Monday and Black Friday in scale — for clues on domestic consumption. But selective disclosures from tech leaders this year paint an incomplete picture of whether Beijing's trillion-dollar-plus effort to rejuvenate the economy is taking hold. Neither of China's two biggest e-commerce players disclosed gross merchandise value, or the sum total of transactions. Independent tracker Syntun
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