Alibaba takes in $84.54b in orders in toned-down Singles Day

Alibaba takes in $84.54b in orders in toned-down Singles Day

Alibaba, Tencent and Taiwan Semiconductor Manufacturing Co. each joined the ranks of Asia's top 10 companies by quarterly net profit. (Nikkei montage/Photos by Reuters

Chinese e-commerce giant Alibaba Group Holding Ltd recorded 540.3 billion yuan ($84.54) billion in orders, or “gross merchandise value” (GMV), over its 11-day Singles’ Day sales event, marking a roughly 14% increase from the year prior.