• 5 ETFs to Tap Alibaba's Record Singles' Day Sales
    Zacks

    5 ETFs to Tap Alibaba's Record Singles' Day Sales

    At the end of the Singles' Day event, Alibaba's GMV was 268.4 billion yuan (about $38.3 billion), up about 26% from last year's $30.5 billion.

  • Alibaba-backed EV startup XPeng raises nearly $400 million for growth - sources
    Reuters

    Alibaba-backed EV startup XPeng raises nearly $400 million for growth - sources

    HONG KONG/BEIJING (Reuters) - Chinese electric vehicle (EV) manufacturer XPeng, backed by Alibaba Group Holding Ltd , has raised nearly $400 million (£312.6 million) from investors including Xiaomi Corp to fund its growth, said two people with knowledge of the matter. The fundraising comes at what bankers and industry insiders describe as an increasingly tough financing environment for Chinese EV startups which must jostle for attention in a crowded sector and produce convincing arguments about future profitability despite government cuts to EV subsidies and plans to phase them out. The dollar fundraising comes as Guangzhou-based XPeng, which has mostly raised yuan-denominated capital, mulls going public in the coming years, with New York among one of possible listing venues, the people said.

  • Tencent Music (TME) Q3 Earnings In Line, Revenues Up Y/Y
    Zacks

    Tencent Music (TME) Q3 Earnings In Line, Revenues Up Y/Y

    Tencent Music's (TME) third-quarter 2019 results benefit from expanded paid mobile subscriber base and increase in the number of users willing to pay for premium music service.

  • How To Invest: Exactly How Much Daily Volume Should You Look For In A Great Stock?
    Investor's Business Daily

    How To Invest: Exactly How Much Daily Volume Should You Look For In A Great Stock?

    How to invest and find the greatest stock market winners? Don't search for penny stocks that trade just a few thousand shares a day. Seek those with high daily volume.

  • AFP

    Chinese consumers smash 'Singles' Day' shopping record

    Chinese shoppers set new records for spending during the annual "Singles' Day" buying spree despite an economic slowdown and worries over the US trade war, with state media calling it a sign of China's rising economic strength. E-commerce giant Alibaba said consumers spent $38.3 billion on its platforms on Monday during the world's biggest 24-hour shopping event, up 26 percent from the previous all-time high mark set last year. The growth rate slowed slightly, however, from the 27 percent increase last year and 39 percent in 2017.

  • JD.com, Inc. (JD) Stock Moves -0.06%: What You Should Know
    Zacks

    JD.com, Inc. (JD) Stock Moves -0.06%: What You Should Know

    JD.com, Inc. (JD) closed the most recent trading day at $33.21, moving -0.06% from the previous trading session.

  • Singles Day 2019: Alibaba Sets New Sales Record
    Zacks

    Singles Day 2019: Alibaba Sets New Sales Record

    Singles Day is hosted every year by Chinese e-commerce giant Alibaba (BABA), and the company just hit a new sales record for the event.

  • Singles' Day Set to Break Record This Year: 5 ETF Deals
    Zacks

    Singles' Day Set to Break Record This Year: 5 ETF Deals

    Investors seeking to tap Singles' Day benefits in a diversified way should focus on the following four ETFs that provide substantial exposure to the Chinese e-commerce segment.

  • Has JD.com (JD) Outpaced Other Retail-Wholesale Stocks This Year?
    Zacks

    Has JD.com (JD) Outpaced Other Retail-Wholesale Stocks This Year?

    Is (JD) Outperforming Other Retail-Wholesale Stocks This Year?

  • Factors Setting the Tone for NetApp's (NTAP) Q2 Earnings
    Zacks

    Factors Setting the Tone for NetApp's (NTAP) Q2 Earnings

    NetApp's (NTAP) fiscal second-quarter earnings are likely to reflect strength in hybrid multi-cloud solutions, Cloud Data Services and Private Cloud offerings amid stiff competition.

  • What's in Store for Vipshop Holdings (VIPS) in Q3 Earnings?
    Zacks

    What's in Store for Vipshop Holdings (VIPS) in Q3 Earnings?

    Vipshop Holdings' (VIPS) third-quarter 2019 results are likely to reflect the effect of seasonality with slight improvement in the top line.

  • AFP

    What slowdown? Chinese shoppers set new 'Singles' Day' spending record

    Chinese consumers spent a record amount on Alibaba platforms Monday during the annual "Singles' Day" buying spree, the world's biggest 24-hour shopping event, which kicked off this year with a glitzy show by US singer Taylor Swift. China's economy is in an extended slowdown exacerbated by the US trade war, and the Singles' Day fire sale is viewed as a snapshot of consumer sentiment in the world's second-biggest economy. US President Donald Trump has repeatedly said his tariffs on Chinese goods have put the country's economy on the ropes, but the state-run tabloid Global Times said the shopping figures proved otherwise.

  • What slowdown? Chinese shoppers set new 'Singles' Day' spending record
    AFP News

    What slowdown? Chinese shoppers set new 'Singles' Day' spending record

    Chinese consumers spent a record amount on Alibaba platforms Monday during the annual "Singles' Day" buying spree, the world's biggest 24-hour shopping event, which kicked off this year with a glitzy show by US singer Taylor Swift. China's economy is in an extended slowdown exacerbated by the US trade war, and the Singles' Day fire sale is viewed as a snapshot of consumer sentiment in the world's second-biggest economy. US President Donald Trump has repeatedly said his tariffs on Chinese goods have put the country's economy on the ropes, but the state-run tabloid Global Times said the shopping figures proved otherwise.

  • Police shooting rattles Hong Kong markets, investors count on Alibaba listing
    Reuters

    Police shooting rattles Hong Kong markets, investors count on Alibaba listing

    Hong Kong's share index lost almost 3% as unrest in the Asian financial hub worsened on Monday, with police firing live rounds at anti-government protesters on the eastern side of island and firing tear gas at protesters in the Central business district. Investor sentiment suffered after a police officer shot and wounded one protester before trading commenced. The market had already been set for a shaky start after U.S. President Donald Trump said on Friday he has not agreed to roll back tariffs on Chinese goods as Beijing suggested last week.

  • Factbox: China's love of e-commerce powers Alibaba's Singles' Day
    Reuters

    Factbox: China's love of e-commerce powers Alibaba's Singles' Day

    China's dominant e-commerce firm Alibaba Group Holding raked in $23 billion worth of sales in the first nine hours of its annual Singles' Day shopping extravaganza on Monday, setting records as the event celebrates its 11th year. The 24-hour shopping event is akin to Black Friday and Cyber Monday in the United States and has become a highlight of China's e-commerce industry, with other retailers running concurrent promotions. This year, Alibaba netted $1 billion in sales in the event's first 68 seconds.

  • AFP

    What slowdown? Chinese spend big in 'Singles' Day' shopping spree

    Chinese consumers closed in on a new spending record Monday during the annual "Singles' Day" frenzy, the world's biggest 24-hour shopping event, which kicked off this year with a glitzy show by US megastar Taylor Swift. E-commerce leader Alibaba said that within the first 12 hours, nearly 192 billion yuan ($27.4 billion) had been spent -- apparently on pace to shatter last year's full 24-hour record of $30.7 billion. China's economy is in the midst of an extended slowdown, exacerbated by the trade war with the United States, and the Singles' Day fire sale is viewed as a snapshot of consumer sentiment in the world's second-biggest economy.

  • What slowdown? Chinese spend big in 'Singles' Day' shopping spree
    AFP News

    What slowdown? Chinese spend big in 'Singles' Day' shopping spree

    Chinese consumers closed in on a new spending record Monday during the annual "Singles' Day" frenzy, the world's biggest 24-hour shopping event, which kicked off this year with a glitzy show by US megastar Taylor Swift. E-commerce leader Alibaba said that within the first 12 hours, nearly 192 billion yuan ($27.4 billion) had been spent -- apparently on pace to shatter last year's full 24-hour record of $30.7 billion. China's economy is in the midst of an extended slowdown, exacerbated by the trade war with the United States, and the Singles' Day fire sale is viewed as a snapshot of consumer sentiment in the world's second-biggest economy.

  • Alibaba's Singles' Day sales hit record $38 billion; growth slows
    Reuters

    Alibaba's Singles' Day sales hit record $38 billion; growth slows

    Chinese retailer Alibaba Group Holding Ltd's sales for its 24-hour Singles' Day shopping blitz hit a record $38.4 billion, more than U.S. rival Amazon.com Inc's haul last quarter from online store sales. The event https://tmsnrt.rs/2WTFm7V, a gauge of Chinese consumer sentiment, has also become a shop window this year for Alibaba as it plans to sell $15 billion worth of shares in Hong Kong this month. Alibaba turned China's informal Singles' Day into a shopping event in 2009 and built it into the world's biggest online sales fest, dwarfing Cyber Monday in the United States which took in $7.9 billion last year.

  • China's Alibaba, JD report booming Singles Day sales
    Associated Press

    China's Alibaba, JD report booming Singles Day sales

    Chinese e-commerce giants Alibaba and JD.com reported nearly $70 billion in sales Monday on Singles Day, an annual marketing event that is the world's busiest online shopping day. The day was a temporary relief to retailers that face fading demand as Chinese consumers tighten their belts, anxious over slowing economic growth and the tariff war with Washington. University students created Singles Day in the 1990s as an alternative to Valentine's Day for people without romantic partners.

  • AFP

    Chinese consumers spend billions in 'Singles' Day' shopping spree

    Chinese customers spent billions of dollars during the opening hours of the country's annual "Singles' Day" frenzy Monday, the world's biggest 24-hour shopping event that was kicked off by US megastar Taylor Swift. E-commerce giant Alibaba said the first $1 billion spent on its platforms was reached in just 68 seconds. The total gross merchandise volume settled through its payments platform Alipay hit 100 billion yuan ($14.3 billion) within 63 minutes and 59 seconds -- 43 minutes ahead of last year's pace.

  • Investing.com

    Alibaba’s Annual Singles’ Day Shopping Bonanza Off to Flying Start

    Investing.com - Alibaba Group Holdings Ltd (NYSE:BABA)’s annual Singles’ Day is off to a scorching start, hitting 84 billion yuan ($12 billion) in the first hour, up 22% from last year’s early haul of 69 billion yuan.

  • $38 bln in one day: New record for Alibaba's Singles' Day
    Reuters Videos

    $38 bln in one day: New record for Alibaba's Singles' Day

    China's 24-hour shopping extravaganza has wrapped up, with retail giant Alibaba cashing in another sales record. The ecommerce heavyweight sold goods worth $38.4 billion in this year's Singles' Day - more than six times the amount made in the U.S. on Black Friday last year. This year Alibaba brought in Taylor Swift to headline its gala event, after her latest album broke records in China. Chinese shoppers then snapped up food supplements, facial masks and baby milk power. Alibaba's data shows that brands like L'Oreal and Nestle were among the biggest winners. In all, fifteen brands made sales of over 1 billion yuan. That included phonemakers Huawei and Apple, and clothing brands Nike and Uniqlo. But while the retail giant dominates online shopping in China, Alibaba has challenges too. Singles Day sales growth eased to 26% this year - its weakest since the event started in 2009, in a reflection of a slowing Chinese economy. Though that still beat analyst forecasts of 20-25%. Alibaba has used more aggresive discounts and livestreaming promotions this year to attract more customers from smaller towns. Now investors will be poring over the numbers ahead of its IPO. The firm is expected to sell up to $15 billion worth of shares in Hong Kong later this month.

  • One minute, $1 bln: China's Singles' Day shopping fest
    Reuters Videos

    One minute, $1 bln: China's Singles' Day shopping fest

    The countdown to China's Singles' Day shopping event is over. And it looks like another blockbuster year. Transactions passed the billion dollar mark in just over a minute. The event is run by retail giant Alibaba. It's the world's biggest online shopping fest, akin to Black Friday or Cyber Monday in the U.S. But it dwarfs both of those. This year analysts predict sales will pass 35 billion dollars - more than four times Cyber Monday. About 500 million people are expected to make a purchase - up 100 million on last year. No razzmatazz is spared. U.S. pop star Taylor Swift was flown in to provide the music: Singles' Day has become a barometer for Chinese consumer sentiment. This year there is one warning sign. Alibaba says sales in the first nine hours were up 25% - a smaller rise than in 2018. But the gain may satisfy investors. Alibaba is expected to sell 15 billion dollars worth of shares in a Hong Kong IPO before year's end. It's been battling slower sales growth in China's big cities. That has spurred it to target shoppers in the country's smaller towns. On the evidence of Singles' Day at least, those efforts might be paying off.