Alibaba Group Holding Ltd. sales soar on Singles Day!

Endaba Group

$1billion in 5 minutes! Alibaba Group Holding Ltd. posted $1bn of sales within the first 5 minutes of Singles Day! The annual 24-hour spending blitz dwarfs Black Friday and Cyber Monday in the US is set to offer an indication of the health of the Chinese economy and its largest online retailer. Investors are keeping a close eye on Alibaba to see if it can reprise the 60% leap in transaction to 91.2bn yuan is managed last year!