China's biggest shopping event of the year exceeds low expectations
Publishing timestamp: 2024-11-12 03:27:51
Summary
Major e-commerce companies did not report gross merchandise value for Singles' Day amid weak consumer sentiment. However, consulting executives believe that there has been an uptick in consumer sentiment over the last six weeks. China's retail sales for October are expected to have risen by 3.8% from a year ago, and the Singles' Day shopping festival exceeded expectations for most brands. Investors are waiting for more details on China consumption as JD.com and Alibaba are scheduled to release quarterly results.
Sentiment: MIXED
Tickers: BABA, LULU, JD, 9618-HK,
Keywords: jd.com inc, alibaba group holding ltd, markets, stock markets, lululemon athletica inc, market insider, business news,