KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
While much of China battles deflation and sluggish consumer confidence, JD.com Inc just proved that shoppers aren’t entirely holding back.
During this year’s Singles’ Day shopping festival, JD.com reported a near 60% jump in orders and a 40% surge in shoppers, hitting a new record for the world’s largest online shopping event.
Even though the company didn’t reveal total transaction value, the scale of growth stands out against a backdrop of economic weakness and price declines — signaling that strategic discounting and government subsidies may still be able to reignite short-term spending momentum.
Key Takeaways for Readers
1. Record growth despite deflation — consumer demand still alive.
China’s overall price environment remains soft, but JD.com’s strong Singles’ Day performance shows consumers are selectively spending — especially when it comes to electronics and deals. Persistent deflation has made shoppers cautious, but JD’s deep promotions and loyalty programs clearly paid off.
2. Government subsidies played a big role.
According to Evercore ISI’s Neo Wang, JD.com dominates China’s “3C” segment — computer, communication, and consumer electronics — which are eligible for government consumption subsidies until Dec 31.
That may have prompted buyers to rush purchases before the incentives expire — a temporary but powerful spending driver.
3. Alibaba stays silent — and that speaks volumes.
JD.com’s biggest rival Alibaba Group once defined Singles’ Day success, but for the second straight year, it has not released any sales figures. The lack of transparency suggests weaker performance or a strategic shift away from sales-driven events, leaving JD.com as the clear headline winner this year.
4. Overseas expansion is paying off.
JD’s international business has quietly become a growth engine, with transactions doubling in markets like Japan, South Korea, Singapore, Malaysia, Thailand, and Australia, and tripling in 13 regions offering free delivery.
This overseas momentum hints at a new growth story beyond China’s borders, giving JD an edge over competitors tied too closely to domestic demand.
The Bigger Picture
China’s economy still faces deflationary pressure — prices fell in August and September, and the GDP deflator has been shrinking for over two years. But JD.com’s record Singles’ Day shows that targeted incentives, aggressive pricing, and brand trust can still unlock consumer wallets, even in uncertain times.
Bottom Line
JD.com’s blowout Singles’ Day isn’t just about record sales — it’s a sign that Chinese consumers haven’t given up on spending, they’re just becoming smarter and more selective.
For investors and market watchers, JD’s success could be a rare bright spot in China’s deflation story — and a reminder that confidence, not cash, is the real currency to watch in 2026.
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