Alibaba Singles' Day sales: $23bn in first 9 hrs

Alibaba Group Holding Inc on Monday said sales for its annual Singles’ Day shopping blitz hit 158.31 billion yuan ($22.63 billion) in first 9 hours, up 25% from 126.72 billion yuan at the same point last year. Akin to Black Friday & Cyber Monday in the US, Singles’ Day has been promoted as a shopping fest by Alibaba chairman & chief executive Daniel Zhang since 2009.

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