Syntun: Singles' Day tops 1 trillion yuan by Oct 31

Retail data firm Syntun said China's Singles' Day festival had brought in just over 1 trillion yuan of sales by October 31, about the same as a year earlier. Shoppers are holding back because the long property slump has hurt their confidence. Alibaba (BABA) built its Qwen AI into Taobao and Tmall to help shoppers order. David Tepper holds BABA as 3.3% of his portfolio.