Alibaba's Strong Singles' Day Sales Kickoff Hints At China Consumer Rebound

Alibaba Group Holdings, Ltd. (NYSE:BABA) reported strong demand during the initial sales period of its Singles’ Day shopping festival, signaling a potential rebound in consumer confidence in China. 

Singles' Day is the world's largest online shopping festival and while the holiday itself is on Nov. 11, Alibaba hosts a nearly month-long sales event leading up to the holiday on its Taobao and Tmall e-commerce platforms. 

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Solid Sales: During the initial sales period which began on Oct. 14, Alibaba reported “solid momentum” with ...