GO
| HSI1 | 22,671.86 | -405.05 | 342.10B |
| HSCEI1 | 7,460.84 | -147.54 | 100.47B |
| Back Zoom + Zoom - Block Traded | |
|
2026-06-24 12:15:45 Total gross merchandise value (GMV) of major e-commerce platforms during China’s 618 Shopping Festival this year hiked only about 1% YoY to RMB836.6 billion, way below the roughly 15% growth recorded last year, CLSA said in a research report, citing estimates by third-party data monitoring firm Syntun. During the period, new retail (instant delivery) GMV swelled 112% YoY to RMB62.8 billion. Citing industry experts, the report noted that this year’s 618 sales environment was challenging. Douyin and PDD Holdings Inc. (PDD.US) continued to outperform peers, with GMV mounting 20-30% YoY, in light of more aggressive merchant support and category expansion. Taobao/Tmall also recorded positive GMV growth, while JD.com, Inc. (JD.US) may have posted a YoY GMV decline owing to a high base and reduced subsidies. CLSA upheld a cautious view on China’s e-commerce and preferred Alibaba (BABA.US), citing upside potential in its AI cloud business. ~ AASTOCKS Financial News Website: www.aastocks.com | |