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 story : : Alibaba, JD.com shares rise as Singles Day comes to a close #FinanceUSA #StockMarketNEWS Chinatopix via APAlibaba Group Ltd. BABA said Thursday that its 11.11 shopping event generated gross merchandise

@stockMarketNEWS Mon 15 Nov, 2021

Posted in: #FinanceUSA #StockMarketNEWS

: Alibaba, JD.com shares rise as Singles Day comes to a close #FinanceUSA #StockMarketNEWS
Chinatopix via APAlibaba Group Ltd. BABA said Thursday that its 11.11 shopping event generated gross merchandise volume of RMB540.3 billion (.54 billion) this year. That marks an increase from RMB498.2 billion a year earlier. The results reflected “steady and quality growth that is a reflection of the dynamic Chinese consumption economy,� Alibaba Vice President Yang Guang said in a release. Singles Day, or 11.11, is a major shopping event in China during which retailers offer various shopping promotions, including in the days leading up to Nov. 11. Fellow Chinese e-commerce giant JD.com Inc. JD noted on its corporate Twitter account that it saw RMB349.1 billion in volume as of midnight on Nov. 11, “ending the 11-day promotion� that started at 8 p.m. Oct. 31. U.S.-listed shares of Alibaba are up 3.1% in Thursday trading, while shares of JD.com are up 7.4%.


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