China's annual Singles Day online shopping bonanza has brought in a record $31 billion in sales for Alibaba. Meanwhile, investors dumped Hong Kong stocks after demonstrators targeted public transportation and police shot a protester.
Investors dumped Hong Kong stocks after demonstrators targeted public transportation in Asia's top financial hub and police shot a protester, a daylight escalation of violence that comes after five months of unrest.The Hang Seng Index dropped more than 2.6% on Monday, its worst single-day percentage decline since the beginning of August.
What a huge shopping day says about China's economyChina's annual Singles Day online shopping bonanza has brought in a record $31 billion in sales for Alibaba .The country's biggest e-commerce company topped last year's record in 16 1/2 hours. While the event regularly racks up bigger sales than Black Friday and Cyber Monday combined, total spending across the industry will take a while to tabulate.
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