Retail sales

Daily spending dips, but China’s 618 shopping fest sets record with all-time high sales

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Daily spending dips, but China’s 618 shopping fest sets record with all-time high sales

China‘s largest mid-year shopping festival, 618, ended on Wednesday with record sales, though daily spending dropped amid an extended sales period aimed at enticing consumers to part with more of their hard-earned money. The longer sales period helped the combined gross merchandise value (GMV), a business metric commonly used in e-commerce, reach an all-time high … Read more

Asian stocks gain on US bounce, China optimism

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Asian stocks gain on US bounce, China optimism

Asian stocks climbed, buoyed by renewed optimism over China’s economy and US data that eased recession concerns. Japanese equity benchmarks outperformed with gains topping 1%, while shares in Australia and South Korea also advanced. Futures showed Hong Kong’s benchmark may open more than 2% higher on Tuesday. That’s after US stocks climbed for a second … Read more