TCEHY - JD.com Weibo lead upbeat day for Chinese Internet stocks

Chinese tech stocks such as JD.com (NASDAQ:JD) and Weibo flexed their muscles, Thursday, and highlighted trading activity among China's leading tech stocks. JD (JD) climbed almost 8% after the Chinese e-commerce kingpin reported $55.4 billion in Singles Day sales. In China, Singles Day is centered around November 11--using "11/11" is said to represent "bare sticks", or single and unattached people--and is akin to the Black Friday shopping season in the U.S. where retailers slash prices to grease sales for Christmas and the end-of-the-year holidays. And similar to Black Friday, which many companies have stretched beyond a week or more, Singles Day deals are often offered for weeks before and after November 11. Weibo (NASDAQ:WB) also had a strong day, rising as much as 10% after it reported gains in its revenue, and both monthly and daily average users in its third quarter over the same period a year ago. Among

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JD.com, Weibo lead upbeat day for Chinese Internet stocks