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Express News | Alibaba: On November 1st, spent approximately $19.9728 million to repurchase around 1.6332 million shares.
Taobao's 'Double Eleven' data: The transaction volume of 471 home appliance brands doubles.
alibaba-SW (09988.HK)(BABA.US) e-commerce platform Taobao's 'Double Eleven' home appliance spot sales started from 8 p.m. on October 14. This year, with the first addition of government subsidies to Taobao's 'Double Eleven' discounts, it has driven a collective 'surge' in home appliance brands. Data shows that in the first hour, the overall transaction volume of large appliances increased by 765% compared to the same period last year of 'Double Eleven' pre-sale; after four hours of sales, including TCL, Siemens, Fotile, and Xiaomi (01810.HK), the transaction volume of 471 home appliance brands doubled. Shanghai, Shandong, Guangdong, Zhejiang, and Sichuan have become the top regions for Taobao home appliances to be traded in for new ones.
Express News | China concept stocks and China assets ETF strengthened in the night session, with a more than 5% increase in the 3x long FTSE China ETF. Xpeng, IQiyi rose more than 4%, Zeekr, Nio Inc rose nearly 4%, Baidu, Bilibili, Alibaba rose more than 2%.
China A-Share Earnings Could See Notable Recovery in 1H
IDC: The market size of China's game cloud reached $0.91 billion in the first half of 2024, a year-on-year increase of 5.9%.
International Data Corporation (IDC) has released the latest report on China's Game Cloud Market Tracking in the first half of 2024.
Tmall's november 11 shopping festival-related, unexpected outbreak of home appliances.
From platforms to enterprises, and then to the policy level, this year's singles' day sales is considered a very important topic to promote consumer spending and maintain growth. As a result, this year's singles' day sales has been quite significant for several years. For consumers, there are now more reasons to reignite their enthusiasm for consumption.