On Wednesday, Shares of Alibaba Group Holding Ltd (NYSE:BABA), lost -1.62% to $68.55. 12.28 million shares of the company were exchanged.
Alibaba Group (BABA) officially launched its 2015 11.11 Global Shopping Festival in a ceremony at its Hangzhou, China, headquarters. At the event, Alibaba outlined its international strategy to serve as the “gateway to China” for brands worldwide. Representatives from 39 countries, more than 40 partnering international brands, and nearly 30 fresh food associations from around the world were in attendance. Alibaba Group executives Jack Ma, executive chairman, Daniel Zhang, chief executive officer, and Michael Evans, president, addressed the key precedingities and aims of this year’s 11.11 festival.
With the Chinese consumption economy as the main backdrop and driving force behind the world’s largest shopping event, Jack Ma offered his insights and shared his optimism with the audience. “There are presently 300 million middle class in China, and that number will rise to 500 million in 10 to 15 years. This will be an opportunity for every nation,” he said. “China’s consumption power will rise quickly and that will not only drive China’s economy but also the world’s economy.”
With more than 100 global brands, trade associations and country representatives in the audience, Michael Evans, in his first public appearance as President of Alibaba, talk abouted the company’s globalization plan – one of Alibaba Group’s key long-term growth strategies and a top preceding for the 11.11 shopping festival this year.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Shares of Taiwan Semiconductor, (NYSE:TSM), inclined 1.78% to $22.33, during its last trading session.
In the last trading session, the stock moved on low volume, trading at a volume of 8.47 M as compared to its average daily volume of 10.04 million shares.
The stock, as of recent close, has shown weekly upbeat performance of 1.87% which was maintained at 9.56% in 1-month period.
Taiwan Semiconductor Manufacturing Company Limited engages in the computer-aided design, manufacture, packaging, testing, sale, and marketing of integrated circuits and other semiconductor devices.
At the end of Wednesday’s trade, Shares of Procter & Gamble Co (NYSE:PG), inclined 0.13% to $74.21.
The Board of Directors of The Procter & Gamble Company (PG) declared a quarterly dividend of $0.6629 per share on the Common Stock and on the Series A and Series B ESOP Convertible Class A Preferred Stock of the Company, payable on or after November 16, 2015, to Common Stock shareholders of record at the close of business on October 23, 2015, and to Series A and Series B Preferred Stock shareholders of record at the start of business on October 23, 2015.\
The dividend was declared during P&G’s annual shareholder meeting in Cincinnati. P&G has been paying a dividend for 125 successive years since its incorporation in 1890 and has raised its dividend for 59 successive years.
The Procter & Gamble Company, together with its auxiliaries, manufactures and sells branded consumer packaged products worldwide. It operates through five segments: Beauty, Hair and Personal Care; Grooming; Health Care; Fabric Care and Home Care; and Baby, Feminine and Family Care.
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