Those stocks have already been bid up in advance of Singles’ Day, so much so that JD.com is the worst performer over the past month with a gain of 10.6%. Vipshop and Baidu are up 44% and 23.2%, respectively, over that period.
KWEB allocates over 20% of its combined weight to Baidu, JD.com and Vipshop. Big Tree’s Emerging Markets Internet & Ecommerce Index devotes 17.5% of its weight to those stocks.
There is no denying the potency (and growth) of Singles’ Day. “Five hundred million packages are expected to be delivered between Tuesday and Sunday, a near 50 percent on-year increase,” CNBC reports, citing Barclays.
Alibaba, which is now larger than all but six public companies trading in the U.S., said more than $2 billion was settled through Alipay on Alibaba’s China and international retail marketplaces within the first hour and 12 seconds of Single’s Day.
KraneShares CSI China Internet Fund
Todd Shriber owns shares of Alibaba.